Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $45.50 Average Target Price from Analysts

Live Oak Bancshares, Inc. (NASDAQ:LOB) has been given a consensus rating of “Moderate Buy” by the four research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $45.50.

LOB has been the topic of a number of research analyst reports. 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 report on Friday, October 25th. 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 report on Monday, October 28th.

Insider Buying and Selling at Live Oak Bancshares

In other news, Director William Henderson Cameron bought 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now directly 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 filing with the SEC, which is available through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the 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 sale, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. 49 Wealth Management LLC raised its holdings in Live Oak Bancshares by 2.1% in the 3rd quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after acquiring an additional 212 shares during the last quarter. Quarry LP raised its holdings in Live Oak Bancshares by 98.6% in the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after acquiring an additional 354 shares during the last quarter. Cetera Advisors LLC raised its holdings in Live Oak Bancshares by 9.2% in the 1st 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. FMR LLC raised its holdings in Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after acquiring an additional 568 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in shares of Live Oak Bancshares by 87.5% in the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 2.4 %

Shares of LOB stock opened at $45.92 on Friday. The business’s fifty day simple moving average is $46.22 and its 200-day simple moving average is $41.44. The company has a market cap of $2.08 billion, a PE ratio of 28.88 and a beta of 1.66. Live Oak Bancshares has a 12-month low of $31.03 and a 12-month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The business 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 7.65% and a net margin of 7.99%. During the same period in the previous year, the company posted $0.88 earnings per share. On average, equities analysts forecast that Live Oak Bancshares will post 1.97 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Monday, December 2nd. Live Oak Bancshares’s payout ratio is 7.55%.

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.