Live Oak Bancshares (NASDAQ:LOB) Price Target Raised to $57.00 at Truist Financial

Live Oak Bancshares (NASDAQ:LOB) had its target price boosted by equities researchers at Truist Financial from $51.00 to $57.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Truist Financial’s target price indicates a potential upside of 15.74% from the stock’s current price.

A number of other equities research analysts also recently commented on LOB. JPMorgan Chase & Co. decreased their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Piper Sandler increased their price objective on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.75.

Live Oak Bancshares Trading Down 0.9 %

Shares of NASDAQ LOB traded down $0.47 during midday trading on Friday, reaching $49.25. The company had a trading volume of 88,940 shares, compared to its average volume of 177,854. Live Oak Bancshares has a 1 year low of $26.11 and a 1 year high of $50.57. The business’s 50-day simple moving average is $42.29 and its 200 day simple moving average is $38.31. The stock has a market cap of $2.21 billion, a P/E ratio of 24.75 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The company had revenue of $232.61 million during the quarter, compared to analyst estimates of $123.08 million. During the same quarter last year, the business posted $0.39 EPS. Analysts predict that Live Oak Bancshares will post 2.32 earnings per share for the current year.

Insider Buying and Selling at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the sale, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Live Oak Bancshares

A number of institutional investors have recently modified their holdings of LOB. Toth Financial Advisory Corp boosted its position in Live Oak Bancshares by 10.7% during the first quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock worth $138,000 after purchasing an additional 320 shares in the last quarter. ProShare Advisors LLC grew its stake in Live Oak Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock valued at $251,000 after acquiring an additional 476 shares during the period. Cetera Advisors LLC grew its stake in Live Oak Bancshares by 9.2% in the 1st quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock valued at $245,000 after acquiring an additional 500 shares during the period. Riverview Trust Co purchased a new stake in Live Oak Bancshares in the 1st quarter worth $28,000. Finally, Chatham Capital Group Inc. raised its position in Live Oak Bancshares by 1.7% during the second quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock worth $1,536,000 after acquiring an additional 735 shares during the period. 63.95% of the stock is currently 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.