$91.68 Million in Sales Expected for Live Oak Bancshares, Inc. (NASDAQ:LOB) This Quarter

Analysts expect that Live Oak Bancshares, Inc. (NASDAQ:LOB) will post $91.68 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Live Oak Bancshares’ earnings. The lowest sales estimate is $85.74 million and the highest is $99.80 million. Live Oak Bancshares posted sales of $45.90 million in the same quarter last year, which suggests a positive year over year growth rate of 99.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, April 28th.

On average, analysts expect that Live Oak Bancshares will report full year sales of $357.58 million for the current financial year, with estimates ranging from $350.10 million to $361.91 million. For the next fiscal year, analysts anticipate that the business will post sales of $397.61 million, with estimates ranging from $373.70 million to $414.93 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Live Oak Bancshares.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Tuesday, January 26th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.16. The firm had revenue of $73.10 million for the quarter, compared to the consensus estimate of $83.63 million. Live Oak Bancshares had a return on equity of 6.83% and a net margin of 10.11%.

A number of research firms recently issued reports on LOB. Truist raised their price target on Live Oak Bancshares from $48.00 to $60.00 in a research note on Monday. Zacks Investment Research raised Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, February 2nd. Keefe, Bruyette & Woods began coverage on Live Oak Bancshares in a research report on Sunday, December 13th. They set an “outperform” rating and a $56.00 price objective for the company. Finally, Raymond James increased their price objective on Live Oak Bancshares from $42.00 to $50.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 29th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $59.67.

NASDAQ:LOB traded up $0.23 during mid-day trading on Tuesday, reaching $50.89. 416,132 shares of the stock were exchanged, compared to its average volume of 303,992. The company has a 50 day simple moving average of $46.17 and a 200-day simple moving average of $36.79. The stock has a market capitalization of $2.07 billion, a P/E ratio of 56.06 and a beta of 1.30. Live Oak Bancshares has a 1 year low of $7.57 and a 1 year high of $52.45.

In other news, insider Steve Smits sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $43.40, for a total value of $651,000.00. Following the completion of the sale, the insider now directly owns 151,206 shares of the company’s stock, valued at approximately $6,562,340.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 25.10% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of LOB. Federated Hermes Inc. acquired a new position in Live Oak Bancshares during the third quarter worth $28,000. Valeo Financial Advisors LLC raised its holdings in Live Oak Bancshares by 73.0% during the third quarter. Valeo Financial Advisors LLC now owns 1,730 shares of the bank’s stock worth $44,000 after purchasing an additional 730 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Live Oak Bancshares during the third quarter worth $51,000. Lee Financial Co acquired a new position in Live Oak Bancshares during the third quarter worth $91,000. Finally, NEXT Financial Group Inc increased its position in Live Oak Bancshares by 282.7% during the fourth quarter. NEXT Financial Group Inc now owns 2,591 shares of the bank’s stock worth $123,000 after buying an additional 1,914 shares in the last quarter. 43.59% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Company Profile

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 and Estimates for Live Oak Bancshares (NASDAQ:LOB)

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