Truist Financial Has Lowered Expectations for Live Oak Bancshares (NASDAQ:LOB) Stock Price

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

Several other research analysts have also commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued 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 price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.50.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock opened at $39.71 on Monday. Live Oak Bancshares has a 12-month low of $28.07 and a 12-month high of $50.57. The stock has a market capitalization of $1.79 billion, a P/E ratio of 19.95 and a beta of 1.60. The firm’s 50-day moving average is $45.07 and its two-hundred day moving average is $39.61.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results 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). The firm had revenue of $241.87 million for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.88 earnings per share. As a group, analysts forecast that Live Oak Bancshares will post 2.31 EPS for the current year.

Live Oak Bancshares Announces Dividend

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

Insiders Place Their Bets

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the business’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 sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at approximately $1,143,929. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Henderson Cameron purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the purchase, the director now directly owns 202,217 shares in the company, valued at $8,040,147.92. This represents a 0.00 % increase in their position. 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 institutional investors have recently bought and sold shares of the stock. Capital International Investors purchased a new position in Live Oak Bancshares during the 1st quarter valued at about $18,628,000. abrdn plc purchased a new position in Live Oak Bancshares during the 3rd quarter valued at about $14,501,000. Blue Trust Inc. grew its stake in Live Oak Bancshares by 12,211.1% during the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after acquiring an additional 250,939 shares in the last quarter. Envestnet Asset Management Inc. grew its stake 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 valued at $2,319,000 after acquiring an additional 53,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Live Oak Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after acquiring an additional 48,018 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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.