Live Oak Bancshares (NASDAQ:LOB) Sets New 12-Month High at $47.54

Live Oak Bancshares, Inc. (NASDAQ:LOB) shares reached a new 52-week high on Tuesday . The company traded as high as $47.54 and last traded at $47.49, with a volume of 16669 shares. The stock had previously closed at $46.80.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LOB shares. Piper Sandler boosted their price target on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Truist Financial upped their price objective on Live Oak Bancshares from $38.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.25.

Live Oak Bancshares Stock Performance

The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 24.39 and a beta of 1.60. The business’s 50-day moving average is $42.03 and its 200-day moving average is $38.23.

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

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.03 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Insider Activity at Live Oak Bancshares

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Toth Financial Advisory Corp boosted its stake in shares of Live Oak Bancshares by 10.7% in the 1st quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock valued at $138,000 after purchasing an additional 320 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Live Oak Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock valued at $251,000 after buying an additional 476 shares during the period. Cetera Advisors LLC boosted its stake in Live Oak Bancshares by 9.2% in the first 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 last quarter. Riverview Trust Co bought a new stake in shares of Live Oak Bancshares during the 1st quarter valued at $28,000. Finally, Chatham Capital Group Inc. boosted its position in shares of Live Oak Bancshares by 1.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock worth $1,536,000 after purchasing an additional 735 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.

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.