Brokerages Set Live Oak Bancshares, Inc. (NASDAQ:LOB) Target Price at $45.50

Live Oak Bancshares, Inc. (NASDAQ:LOB) has received an average rating of “Moderate Buy” from the four research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $45.50.

A number of research firms recently commented on LOB. Truist Financial dropped their price target on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Piper Sandler reduced 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 research report on Friday, October 25th.

Insider Transactions at Live Oak Bancshares

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock valued at $36,658,000 after acquiring an additional 13,824 shares during the period. Barclays PLC raised its position in Live Oak Bancshares by 130.5% during the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank’s stock worth $3,485,000 after purchasing an additional 41,662 shares during the last quarter. HighTower Advisors LLC acquired a new position in Live Oak Bancshares during the 3rd quarter worth about $364,000. abrdn plc bought a new stake in shares of Live Oak Bancshares in the 3rd quarter valued at about $14,501,000. Finally, FMR LLC increased its stake in shares of Live Oak Bancshares by 15.0% in the third 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. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 0.8 %

Shares of LOB opened at $39.44 on Thursday. Live Oak Bancshares has a 12 month low of $31.03 and a 12 month high of $50.57. The firm’s 50 day moving average is $44.51 and its 200-day moving average is $42.43. The stock has a market capitalization of $1.78 billion, a PE ratio of 24.81 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The company had revenue of $241.87 million for the quarter, compared to the consensus estimate 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 quarter last year, the business earned $0.88 EPS. Equities research analysts predict that Live Oak Bancshares will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio is presently 7.55%.

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.