Reports Q3 revenue $127.3M, consensus $112.88M. Net gains on sales of loans for the third quarter of 2023 was $12.7 million, a $1.9 million increase compared to the second quarter of 2023, and a $3.4 million increase compared to the third quarter of 2022. The increase in net gains on sales of loans compared to the second quarter of 2023 was principally the result of the above discussed change in estimate effective during the third quarter of 2023, resulting in incrementally higher servicing asset values recognized when loans are sold and corresponding higher gains on sale. The increase in net gains on sales of loans compared to the third quarter of 2022 was principally the result of a higher volume of loan sales in the third quarter of 2023.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on LOB:
- Live Oak Bancshares, Inc. Reports Third Quarter 2023 Results
- Live Oak Bancshares, Inc. Announces Date of Third Quarter 2023 Financial Results
- ‘There’s Good Value in the Market Now’: J.P. Morgan Suggests 2 Stocks to Buy — Including One With 80% Upside
- Live Oak Bancshares upgraded to Overweight from Neutral at JPMorgan
- Live Oak Bancshares price target lowered to $35 from $41 at Truist
