Live Oak Bancshares, Inc. (NASDAQ:LOB) is reporting third quarter financial results on Wednesday 21st October 2020, after market close.
According to analysts surveyed by Thomson Reuters, LOB is expected to report 3Q20 income of $ 0.27 per share from revenue of $ 74.05 million.
For the full year, analysts anticipate top line of $ 275.28 million, while looking forward to income of $ 0.69 per share bottom line.
Previous Quarter Performance
Live Oak Bancshares, Inc. disclosed income for the second quarter of $ 0.09 per share, from the revenue of $ 63.31 million. The quarterly earnings fell 25.00 percent compared with the same quarter last year. Wall street analysts are predicting, LOB to report 2Q20 income of $ 0.03 per share from revenue of $ 55.34 million. The bottom line results beat street analysts by $ 0.06 or 200.00 percent, at the same time, top line results outshined analysts by $ 7.97 million or 14.40 percent.
Stock Performance
Shares of Live Oak Bancshares, Inc. traded up $ 0.78 or 2.44 percent on Tuesday, reaching $ 32.79 with volume of 268.00 thousand shares. Live Oak Bancshares, Inc. has traded high as $ 33.71 and has cracked $ 32.26 on the downward trend
The closing price of $ 32.79, representing a 322.85 % increase from the 52 week low of $ 7.57 and a 5.04 % decrease over the 52 week high of $ 33.71.
The company has a market capital of $ 1.33 billion and is part of the Financial Services sector and Savings & Cooperative Banks industry.
Recent Analyst recommendations
- On 29th September 2020, initiated by Raymond James at Outperform rating, with $ 27.00 target price.
Conference Call
Live Oak Bancshares, Inc. will be hosting a conference call at 9:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.liveoakbank.com
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, interest-bearing checking, money market, savings, and time deposits.
