Live Oak Bancshares (NASDAQ:LOB) Price Target Cut to $45.00 by Analysts at JPMorgan Chase & Co.

Live Oak Bancshares (NASDAQ:LOB) had its price target trimmed by JPMorgan Chase & Co. from $46.00 to $45.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

A number of other equities research analysts have also recently weighed in on LOB. Truist Financial dropped their price target on Live Oak Bancshares from $47.00 to $38.00 and set a buy rating on the stock in a research note on Friday, April 26th. Keefe, Bruyette & Woods restated a market perform rating and set a $40.00 target price (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares currently has an average rating of Hold and an average target price of $39.25.

Live Oak Bancshares Trading Up 0.7 %

Shares of LOB opened at $33.84 on Thursday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 16.89 and a beta of 1.62. The company’s fifty day simple moving average is $34.38 and its 200 day simple moving average is $38.26. Live Oak Bancshares has a 1-year low of $24.78 and a 1-year high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, April 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.12). The firm had revenue of $116.21 million during the quarter, compared to analyst estimates of $118.89 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.25%. As a group, research analysts forecast that Live Oak Bancshares will post 1.94 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Insiders Place Their Bets

In other news, Director Tonya Williams Bradford sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total transaction of $93,522.00. Following the transaction, the director now directly owns 5,870 shares of the company’s stock, valued at $211,143.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co bought a new stake in Live Oak Bancshares during the first quarter worth about $28,000. Independence Bank of Kentucky acquired a new stake in shares of Live Oak Bancshares during the 1st quarter worth approximately $44,000. Blue Trust Inc. increased its stake in Live Oak Bancshares by 1,127.6% in the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after acquiring an additional 1,962 shares during the last quarter. Toth Financial Advisory Corp increased its stake in Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after acquiring an additional 775 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Live Oak Bancshares during the first quarter valued at approximately $129,000. Institutional investors own 63.95% of the company’s stock.

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.