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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.
Live Oak beat estimates in the second quarter, and posted solid deposit growth. Asset quality remains strong.
Live Oak Bancshares, Inc. (NYSE:LOB ) Q2 2023 Earnings Conference Call July 26, 2023 9:00 AM ET Company Participants Greg Seward - Chief Risk Officer and General Counsel Chip Mahan - Chairman and Chief Executive Officer William Losch - Chief Financial Officer and Chief Banking Officer Huntley Garriott - President, Live Oak Bank Steven Smits - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Steven Alexopoulos - JP Morgan David Feaster - Raymond James Brandon King - Truist Securities Michael Perito - KBW Operator Good morning, ladies and gentlemen, and welcome to the Live Oak Bancshares Q2 Earnings Conference Call. At this time, all lines are in listen-only mode.