Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $47.25 Consensus Price Target from Brokerages

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) have earned an average rating of “Moderate Buy” from the four ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $47.25.

Several research firms have recently issued reports on LOB. Truist Financial increased their target price on Live Oak Bancshares from $38.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. cut their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Piper Sandler increased their price objective on Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, 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 research report on Friday, July 26th.

Insiders Place Their Bets

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the sale, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.90% of the company’s stock.

Institutional Investors Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of LOB. Riverview Trust Co purchased a new stake in Live Oak Bancshares in the 1st quarter worth approximately $28,000. Independence Bank of Kentucky bought a new position in Live Oak Bancshares in the 1st quarter worth about $44,000. Quest Partners LLC increased its stake in Live Oak Bancshares by 68.4% in the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after acquiring an additional 823 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after acquiring an additional 2,206 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $129,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Trading Up 2.5 %

Shares of NASDAQ LOB opened at $49.76 on Tuesday. The business’s 50 day moving average is $42.29 and its 200-day moving average is $38.31. The firm has a market cap of $2.24 billion, a P/E ratio of 25.01 and a beta of 1.60. Live Oak Bancshares has a 1-year low of $26.11 and a 1-year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The company had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. Analysts forecast that Live Oak Bancshares will post 2.32 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. Investors of record on Tuesday, September 3rd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.24%. Live Oak Bancshares’s payout ratio is currently 6.03%.

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.