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Live Oak Bancshares (LOB) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
The headline numbers for Live Oak Bancshares (LOB) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Live Oak Bancshares (LOB) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.96 per share a year ago.
WILMINGTON, N.C., Oct. 11, 2023 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (“Live Oak”) (NYSE: LOB) today announced that it will report its third quarter 2023 financial results after U.S. financial markets close on Wednesday, October 25, 2023.
The heavy selling pressure might have exhausted for Live Oak Bancshares (LOB) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Live Oak Bancshares Inc.'s share price has been volatile due to industry turmoil and mixed results. The company has seen improvement in net income and net interest income, but the valuation is too expensive. LOB has shown growth in deposits and loan yields, but the return on assets is low, and the valuation is high, making it a hold for now.
Live Oak Bancshares (LOB) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
The heavy selling pressure might have exhausted for Live Oak Bancshares (LOB) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Moody's downgraded 10 regional banks in August, which rattled the industry. Live Oak Bancshares had a change in management last month.
Live Oak (LOB) appears to be a viable investment option right now, backed by strong earnings growth prospects and revenue strength.