Live Oak Bancshares (NASDAQ:LOB) Posts Earnings Results, Beats Expectations By $0.84 EPS

Live Oak Bancshares (NASDAQ:LOB) released its quarterly earnings data on Tuesday. The bank reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.84, MarketWatch Earnings reports. Live Oak Bancshares had a net margin of 25.11% and a return on equity of 18.78%.

LOB stock traded up $3.16 during trading hours on Thursday, hitting $61.14. The company’s stock had a trading volume of 6,504 shares, compared to its average volume of 310,005. The stock has a market cap of $2.64 billion, a P/E ratio of 23.57 and a beta of 1.36. Live Oak Bancshares has a 12 month low of $15.60 and a 12 month high of $72.64. The stock has a 50 day moving average of $58.89.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 8th. Shareholders of record on Tuesday, May 25th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.20%. The ex-dividend date was Monday, May 24th. Live Oak Bancshares’s dividend payout ratio is 8.28%.

LOB has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of Live Oak Bancshares in a research note on Monday, April 12th. They issued a “neutral” rating and a $78.00 price objective on the stock. Zacks Investment Research lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 29th. Finally, Raymond James boosted their target price on shares of Live Oak Bancshares from $50.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 22nd.

About Live Oak Bancshares

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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Earnings History for Live Oak Bancshares (NASDAQ:LOB)

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