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

Live Oak Bancshares (NASDAQ:LOBGet Free Report)‘s stock had its “market perform” rating restated by investment analysts at Keefe, Bruyette & Woods in a note issued to investors on Friday,Benzinga reports. They presently have a $44.00 target price on the bank’s stock, down from their previous target price of $48.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 25.24% from the stock’s previous close.

A number of other research firms also recently commented on LOB. Truist Financial reduced their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Piper Sandler reduced their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.75.

Check Out Our Latest Research Report on Live Oak Bancshares

Live Oak Bancshares Price Performance

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

Live Oak Bancshares (NASDAQ:LOBGet Free Report) last issued its quarterly 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 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 6.88% and a net margin of 7.10%. During the same period in the previous year, the business posted $0.88 EPS. On average, equities research analysts forecast that Live Oak Bancshares will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William Henderson Cameron purchased 1,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were bought at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the business’s 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 transaction, the chief accounting officer now owns 14,015 shares of the company’s stock, valued at approximately $686,735. This represents 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 Trading of Live Oak Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. abrdn plc bought a new stake in Live Oak Bancshares during the third quarter worth approximately $14,501,000. State Street Corp lifted its holdings in shares of Live Oak Bancshares by 13.4% in the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock valued at $52,553,000 after buying an additional 131,343 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Live Oak Bancshares by 82.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 185,309 shares of the bank’s stock valued at $8,778,000 after buying an additional 83,639 shares during the period. JPMorgan Chase & Co. boosted its stake in Live Oak Bancshares by 195.3% during the third quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank’s stock valued at $3,888,000 after buying an additional 54,286 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Live Oak Bancshares by 432.0% during the second quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock worth $2,319,000 after acquiring an additional 53,700 shares during the period. Institutional investors own 63.95% of the company’s stock.

About Live Oak Bancshares

(Get Free Report)

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.

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