Live Oak Bancshares (NASDAQ:LOB) Price Target Cut to $46.00

Live Oak Bancshares (NASDAQ:LOB) had its price target dropped by stock analysts at Truist Financial from $57.00 to $46.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Truist Financial’s price objective would suggest a potential upside of 15.46% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Piper Sandler reduced their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares has a consensus rating of “Hold” and an average target price of $45.50.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock opened at $39.84 on Monday. Live Oak Bancshares has a fifty-two week low of $27.99 and a fifty-two week high of $50.57. The firm’s 50-day simple moving average is $45.08 and its 200 day simple moving average is $39.60. The stock has a market cap of $1.79 billion, a PE ratio of 20.02 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). The firm 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 10.93% and a net margin of 11.22%. During the same period in the prior year, the business earned $0.88 EPS. As a group, analysts predict that Live Oak Bancshares will post 2.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Oak Bancshares

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Live Oak Bancshares by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,509,008 shares of the bank’s stock worth $114,160,000 after buying an additional 27,451 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Live Oak Bancshares during the 1st quarter worth approximately $939,000. BNP Paribas Financial Markets lifted its stake in Live Oak Bancshares by 81.3% in the 1st quarter. BNP Paribas Financial Markets now owns 16,674 shares of the bank’s stock worth $692,000 after purchasing an additional 7,475 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Live Oak Bancshares in the 1st quarter valued at $407,000. Finally, Quantbot Technologies LP purchased a new position in shares of Live Oak Bancshares during the 1st quarter valued at $289,000. 63.95% of the stock is 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.