Live Oak Bancshares beats Q4 revenue estimates

Overview

• U.S. financial firm's Q4 revenue rises, beating analyst expectations

• Net income attributable to common shareholders increased significantly yr/yr

• Company completed sale of Apiture, Inc., resulting in pre-tax gain

Outlook

• Company did not provide specific guidance for future quarters or the full year

Result Drivers

• LOAN PRODUCTION - Record loan growth across small business and commercial lending teams contributed to strong financial performance

• DEPOSIT GROWTH - Strong momentum in building low-cost deposits supported financial results

• APITURE SALE - Sale of Apiture resulted in a pre-tax gain of $24.1 mln, boosting equity method investments income

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Live Oak Bancshares Inc is $42.00, about 14.4% above its January 20 closing price of $36.71

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNX2SHfGq

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