Live Oak Bancshares, Inc. (LOB) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Live Oak Bancshares Inc. is the parent and registered bank holding company of Live Oak Banking Company which offers online platform for small business lending. The company accepts deposit products as well as offers loans which comprise small business administration loans; conventional commercial business loans to small and medium sized businesses and construction loans. It offers loans to the veterinary, pharmacy, investment advisory, beverages, funeral homes, entertainment centers, agricultural and healthcare sectors. Live Oak Bancshares Inc. is headquartered in Wilmington, North Carolina. “

A number of other equities analysts have also issued reports on the company. TheStreet upgraded Live Oak Bancshares from a c+ rating to a b rating in a research note on Monday, October 23rd. BidaskClub lowered Live Oak Bancshares from a buy rating to a hold rating in a research note on Wednesday, October 18th. Keefe, Bruyette & Woods began coverage on Live Oak Bancshares in a research note on Monday, October 16th. They issued a market perform rating and a $26.00 target price for the company. SunTrust Banks, Inc. restated a buy rating and issued a $27.00 target price on shares of Live Oak Bancshares in a research note on Thursday, October 12th. Finally, Sandler O’Neill raised Live Oak Bancshares from a hold rating to a buy rating and cut their price target for the stock from $25.00 to $24.00 in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $26.50.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, October 25th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. The company had revenue of $46.09 million during the quarter, compared to analyst estimates of $42.56 million. Live Oak Bancshares had a return on equity of 15.61% and a net margin of 17.68%.

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The business also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, November 10th. Live Oak Bancshares’s dividend payout ratio is currently 12.90%.

In related news, Director Diane Beth Glossman purchased 2,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $23.07 per share, with a total value of $46,140.00. Following the transaction, the director now owns 26,892 shares of the company’s stock, valued at $620,398.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.10% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Live Oak Bancshares by 3.5% during the 1st quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock valued at $118,000 after acquiring an additional 185 shares during the period. Credit Suisse AG grew its position in shares of Live Oak Bancshares by 2.0% during the 1st quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock valued at $231,000 after acquiring an additional 207 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Live Oak Bancshares by 1.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 56,458 shares of the bank’s stock valued at $1,366,000 after acquiring an additional 631 shares during the period. American International Group Inc. grew its position in shares of Live Oak Bancshares by 7.0% during the 1st quarter. American International Group Inc. now owns 12,038 shares of the bank’s stock valued at $261,000 after acquiring an additional 791 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Live Oak Bancshares by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 20,994 shares of the bank’s stock valued at $508,000 after acquiring an additional 945 shares during the period. Hedge funds and other institutional investors own 32.42% of the company’s stock.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).

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