Live Oak Bancshares (NASDAQ:LOB) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Live Oak Bancshares (NASDAQ:LOB)‘s stock had its “market perform” rating reissued by analysts at Keefe, Bruyette & Woods in a report issued on Friday,Benzinga reports. They presently have a $44.00 price target on the bank’s stock, down from their prior price target of $48.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 25.24% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. 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. Truist Financial reduced their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.75.

Live Oak Bancshares Stock Up 0.2 %

Shares of Live Oak Bancshares stock opened at $35.13 on Friday. Live Oak Bancshares has a 12-month low of $31.03 and a 12-month high of $50.57. The firm has a market capitalization of $1.59 billion, a PE ratio of 24.23 and a beta of 1.69. The stock’s fifty day moving average is $42.25 and its 200-day moving average is $43.25.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 6.88% and a net margin of 7.10%. The company had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. During the same period in the prior year, the business posted $0.88 EPS. Analysts expect that Live Oak Bancshares will post 2.52 EPS for the current year.

Insider Buying and Selling at Live Oak Bancshares

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

Institutional Investors Weigh In On Live Oak Bancshares

Large investors have recently bought and sold shares of the business. Quarry LP lifted its position in shares of Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after buying an additional 354 shares during the last quarter. nVerses Capital LLC raised 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 acquiring an additional 700 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Live Oak Bancshares by 161.4% in the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after purchasing an additional 1,954 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Live Oak Bancshares during the third quarter worth approximately $205,000. Finally, Entropy Technologies LP acquired a new position in Live Oak Bancshares during the third quarter valued at approximately $205,000. 63.95% of the stock is currently owned by institutional investors.

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.