Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $45.50 Consensus Target Price from Analysts

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) have been assigned an average recommendation of “Moderate Buy” from the four research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $45.50.

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Piper Sandler cut their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th.

Live Oak Bancshares Trading Up 0.5 %

Shares of LOB opened at $46.51 on Wednesday. Live Oak Bancshares has a 12-month low of $29.26 and a 12-month high of $50.57. The company’s 50 day simple moving average is $45.26 and its 200-day simple moving average is $39.90. The firm has a market cap of $2.09 billion, a PE ratio of 31.12 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The business had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, equities research analysts forecast that Live Oak Bancshares will post 2.16 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.26%. Live Oak Bancshares’s payout ratio is currently 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron acquired 1,000 shares of Live Oak Bancshares stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average price of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction dated 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 directly owns 26,603 shares in the company, valued at $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Henderson Cameron acquired 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was acquired at an average cost of $39.76 per share, with a total value of $39,760.00. Following the completion of the transaction, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in LOB. Quest Partners LLC boosted its holdings in shares of Live Oak Bancshares by 746.3% in the 3rd quarter. Quest Partners LLC now owns 17,146 shares of the bank’s stock valued at $812,000 after acquiring an additional 15,120 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Live Oak Bancshares during the 3rd quarter worth $205,000. Apollon Wealth Management LLC purchased a new stake in Live Oak Bancshares during the 3rd quarter worth approximately $231,000. Harbor Capital Advisors Inc. lifted its position in Live Oak Bancshares by 15.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,876 shares of the bank’s stock valued at $515,000 after purchasing an additional 1,443 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Live Oak Bancshares by 136.0% in the 3rd quarter. US Bancorp DE now owns 8,134 shares of the bank’s stock worth $385,000 after acquiring an additional 4,687 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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.