Truist Financial Cuts Live Oak Bancshares (NASDAQ:LOB) Price Target to $46.00

Live Oak Bancshares (NASDAQ:LOB) had its price objective lowered by Truist Financial from $57.00 to $46.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Piper Sandler cut 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.50.

Live Oak Bancshares Stock Up 0.4 %

Shares of NASDAQ LOB opened at $40.01 on Monday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 20.11 and a beta of 1.60. The firm has a 50-day simple moving average of $45.08 and a 200-day simple moving average of $39.60. Live Oak Bancshares has a 52 week low of $28.07 and a 52 week high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data 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 business had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, equities research analysts expect that Live Oak Bancshares will post 2.31 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the transaction, the chief accounting officer now owns 26,603 shares in the company, valued at approximately $1,143,929. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LOB. Quest Partners LLC lifted its position in shares of Live Oak Bancshares by 68.4% in the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after acquiring an additional 823 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after buying an additional 700 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Live Oak Bancshares by 1,885.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after buying an additional 2,206 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Live Oak Bancshares in the first quarter valued at about $129,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Live Oak Bancshares by 161.4% during the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock valued at $150,000 after buying an additional 1,954 shares during the period. 63.95% of the stock is owned by hedge funds and other 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.