Live Oak Bancshares (NASDAQ:LOB) Price Target Cut to $44.00

Live Oak Bancshares (NASDAQ:LOB) had its price target decreased by Piper Sandler from $50.00 to $44.00 in a research report released on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued 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 raised their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.25.

Live Oak Bancshares Stock Performance

LOB stock opened at $39.65 on Friday. The firm has a market cap of $1.79 billion, a P/E ratio of 18.11 and a beta of 1.60. Live Oak Bancshares has a 1 year low of $27.79 and a 1 year high of $50.57. The stock has a 50-day simple moving average of $45.11 and a 200-day simple moving average of $39.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The firm had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same period last year, the business earned $0.88 EPS. On average, equities research analysts predict that Live Oak Bancshares will post 2.31 EPS for the current year.

Live Oak Bancshares Announces Dividend

The business also recently declared 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 was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.30%. Live Oak Bancshares’s payout ratio is 5.48%.

Insider Buying and Selling

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company’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 sale, the chief accounting officer now 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 through this link. Insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Independence Bank of Kentucky acquired a new position in shares of Live Oak Bancshares in the 1st quarter valued at about $44,000. nVerses Capital LLC boosted its stake in Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after acquiring an additional 700 shares during the period. Quest Partners LLC grew its holdings in shares of Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after purchasing an additional 823 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Live Oak Bancshares by 1,885.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after purchasing an additional 2,206 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Live Oak Bancshares in the 1st quarter worth approximately $129,000. 63.95% of the stock is owned by institutional investors and hedge funds.

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.