Live Oak Bancshares’ (LOB) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a research note released on Friday,Benzinga reports. They currently have a $44.00 target price on the bank’s stock, down from their prior target price of $48.00.

Other analysts have also issued research reports about the stock. Truist Financial dropped their price objective on shares of 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 price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Live Oak Bancshares Stock Up 0.2 %

LOB opened at $35.13 on Friday. The firm has a market capitalization of $1.59 billion, a P/E ratio of 24.23 and a beta of 1.69. The firm’s 50 day moving average is $42.25 and its 200-day moving average is $43.32. Live Oak Bancshares has a 52-week low of $31.03 and a 52-week high of $50.57.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio is presently 8.28%.

Insiders Place Their Bets

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

Institutional Trading of Live Oak Bancshares

A number of large investors have recently added to or reduced their stakes in LOB. 49 Wealth Management LLC boosted its stake in shares of Live Oak Bancshares by 2.1% during the 3rd quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after buying an additional 212 shares during the period. Quarry LP boosted its stake in shares of Live Oak Bancshares by 98.6% during the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 354 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of Live Oak Bancshares by 3.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank’s stock valued at $411,000 after buying an additional 356 shares during the period. First Hawaiian Bank boosted its stake in shares of Live Oak Bancshares by 3.6% during the 4th quarter. First Hawaiian Bank now owns 16,002 shares of the bank’s stock valued at $633,000 after buying an additional 551 shares during the period. Finally, FMR LLC boosted its stake in shares of Live Oak Bancshares by 15.0% during the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after buying an additional 568 shares during the period. 63.95% of the stock is currently owned by institutional investors.

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.