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

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.com reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $45.50.

Several research analysts have recently weighed in on LOB shares. Piper Sandler decreased their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Truist Financial reduced their price objective on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron purchased 1,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, October 29th. The shares were bought at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the transaction, the director now owns 202,217 shares in the company, valued at $8,040,147.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the sale, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at $1,143,929. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Henderson Cameron acquired 1,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Live Oak Bancshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock worth $105,273,000 after buying an additional 27,086 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Live Oak Bancshares by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock worth $54,701,000 after buying an additional 15,496 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Live Oak Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after buying an additional 48,018 shares in the last quarter. Capital International Investors bought a new stake in shares of Live Oak Bancshares during the 1st quarter worth about $18,628,000. Finally, abrdn plc bought a new stake in shares of Live Oak Bancshares during the 3rd quarter worth about $14,501,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Trading Up 1.2 %

Shares of LOB stock opened at $48.67 on Wednesday. The company has a market capitalization of $2.19 billion, a PE ratio of 30.61 and a beta of 1.63. The firm has a fifty day simple moving average of $45.48 and a 200-day simple moving average of $40.11. Live Oak Bancshares has a twelve month low of $29.26 and a twelve month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.25). The firm had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. During the same quarter last year, the company posted $0.88 earnings per share. Equities research analysts predict that Live Oak Bancshares will post 2.09 EPS for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. Live Oak Bancshares’s payout ratio is currently 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.