Live Oak Bancshares, Inc. (LOB) Tops Q2 EPS by 12c

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Go back to Live Oak Bancshares, Inc. (LOB) Tops Q2 EPS by 12c

Live Oak Bancshares (LOB) PT Raised to $55 at JPMorgan

July 26, 2024 6:14 AM EDT

JPMorgan analyst Steven Alexopoulos raised the price target on Live Oak Bancshares (NYSE: LOB) to $55.00 (from $45.00) while maintaining a Overweight rating.

The analyst comments "Live Oak reported 2Q24 core EPS of $0.56 which beat expectations primarily tied to lower than expected expenses as the bank showcased continued cost discipline by holding expenses flat year-over-year. More impressively, even with flat expenses, the bank has been hiring revenue producers (20 lending-related employees added over the past year) and other talent to roll out new products such as business checking and small dollar SBA loans. On... More