Live Oak Bancshares (NASDAQ:LOB) Price Target Lowered to $45.00 at JPMorgan Chase & Co.

Live Oak Bancshares (NASDAQ:LOB) had its price target reduced by JPMorgan Chase & Co. from $46.00 to $45.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other analysts have also weighed in on LOB. Keefe, Bruyette & Woods reissued a market perform rating and issued a $40.00 price objective (down from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. Truist Financial reduced their price objective on Live Oak Bancshares from $47.00 to $38.00 and set a buy rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares has a consensus rating of Hold and an average target price of $39.25.

Live Oak Bancshares Trading Up 0.7 %

LOB stock opened at $33.84 on Thursday. The firm has a 50 day simple moving average of $34.38 and a 200-day simple moving average of $38.26. The company has a market capitalization of $1.52 billion, a P/E ratio of 16.89 and a beta of 1.62. Live Oak Bancshares has a twelve month low of $24.78 and a twelve month high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.12). The company had revenue of $116.21 million for the quarter, compared to the consensus estimate of $118.89 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.25%. On average, research analysts predict that Live Oak Bancshares will post 1.94 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $0.03 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.12 annualized dividend and a yield of 0.35%. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

Insider Buying and Selling at Live Oak Bancshares

In other news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total transaction of $93,522.00. Following the sale, the director now owns 5,870 shares of the company’s stock, valued at $211,143.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Capital International Investors bought a new position in Live Oak Bancshares in the 1st quarter valued at about $18,628,000. Trust Co of the South bought a new position in shares of Live Oak Bancshares in the fourth quarter valued at approximately $15,042,000. Norges Bank acquired a new position in shares of Live Oak Bancshares during the fourth quarter valued at approximately $7,474,000. Mendon Capital Advisors Corp bought a new stake in Live Oak Bancshares during the fourth quarter worth approximately $4,550,000. Finally, Homestead Advisers Corp lifted its position in Live Oak Bancshares by 103.6% in the fourth quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock worth $5,596,000 after purchasing an additional 62,600 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.