Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $45.50 Average PT from Brokerages

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) have earned a consensus rating of “Moderate Buy” from the four analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $45.50.

Several research firms have issued reports on LOB. Truist Financial dropped their price target on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Piper Sandler dropped their target price on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 12,588 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total transaction of $616,812.00. Following the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. This represents a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, with a total value of $39,760.00. Following the transaction, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Live Oak Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. abrdn plc bought a new stake in shares of Live Oak Bancshares during the third quarter worth approximately $14,501,000. State Street Corp lifted its holdings in Live Oak Bancshares by 13.4% during the 3rd quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock worth $52,553,000 after purchasing an additional 131,343 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Live Oak Bancshares by 82.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 185,309 shares of the bank’s stock valued at $8,778,000 after purchasing an additional 83,639 shares during the period. JPMorgan Chase & Co. grew its holdings in Live Oak Bancshares by 195.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank’s stock valued at $3,888,000 after buying an additional 54,286 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Live Oak Bancshares by 432.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock worth $2,319,000 after buying an additional 53,700 shares during the period. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $39.44 on Thursday. The firm has a 50-day simple moving average of $44.51 and a 200 day simple moving average of $42.43. Live Oak Bancshares has a twelve month low of $31.03 and a twelve month high of $50.57. The stock has a market cap of $1.78 billion, a PE ratio of 24.81 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.25). The company had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. During the same quarter last year, the company earned $0.88 EPS. Research analysts forecast that Live Oak Bancshares will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.03 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. Live Oak Bancshares’s dividend payout ratio is 7.55%.

Live Oak Bancshares Company Profile

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.