Live Oak Bancshares, Inc. (NASDAQ:LOB) Expected to Announce Quarterly Sales of $101.22 Million

Equities analysts predict that Live Oak Bancshares, Inc. (NASDAQ:LOBGet Rating) will report sales of $101.22 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Live Oak Bancshares’ earnings, with the lowest sales estimate coming in at $95.88 million and the highest estimate coming in at $106.97 million. Live Oak Bancshares posted sales of $141.57 million in the same quarter last year, which suggests a negative year over year growth rate of 28.5%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Live Oak Bancshares will report full-year sales of $432.45 million for the current fiscal year, with estimates ranging from $422.07 million to $443.36 million. For the next year, analysts forecast that the business will post sales of $497.18 million, with estimates ranging from $486.10 million to $513.10 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Live Oak Bancshares.

Live Oak Bancshares (NASDAQ:LOBGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The bank reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. Live Oak Bancshares had a return on equity of 23.36% and a net margin of 30.72%. During the same period in the previous year, the company posted $0.88 earnings per share.

A number of research firms have recently commented on LOB. JPMorgan Chase & Co. raised their target price on Live Oak Bancshares from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, February 17th. StockNews.com began coverage on Live Oak Bancshares in a research report on Thursday, March 31st. They set a “sell” rating for the company. Truist Financial reduced their target price on shares of Live Oak Bancshares from $75.00 to $55.00 in a research report on Monday, May 2nd. Zacks Investment Research lowered shares of Live Oak Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Finally, Raymond James dropped their price objective on shares of Live Oak Bancshares from $80.00 to $55.00 in a research note on Friday, April 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.75.

In related news, insider Steve Smits sold 2,747 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $63.13, for a total value of $173,418.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William C. Losch III bought 3,125 shares of the business’s stock in a transaction that occurred on Wednesday, February 9th. The shares were acquired at an average price of $64.32 per share, with a total value of $201,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,025 shares of company stock worth $580,835. 25.70% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Catalyst Capital Advisors LLC bought a new position in shares of Live Oak Bancshares in the fourth quarter worth about $29,000. USA Financial Portformulas Corp purchased a new stake in Live Oak Bancshares in the 4th quarter worth $34,000. Private Capital Group LLC bought a new position in shares of Live Oak Bancshares during the 1st quarter valued at about $39,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Live Oak Bancshares during the first quarter valued at about $102,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Live Oak Bancshares in the fourth quarter worth about $103,000. 62.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:LOB traded down $0.71 on Friday, hitting $41.53. The company had a trading volume of 339,700 shares, compared to its average volume of 415,293. The firm’s 50-day simple moving average is $51.21 and its two-hundred day simple moving average is $69.33. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.77 and a beta of 1.54. Live Oak Bancshares has a 1 year low of $40.35 and a 1 year high of $99.89.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were paid a $0.03 dividend. The ex-dividend date was Monday, February 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.29%. Live Oak Bancshares’s dividend payout ratio is presently 3.34%.

About Live Oak Bancshares (Get Rating)

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.

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