Live Oak Bancshares (NASDAQ:LOB) Hits New 52-Week High at $47.54

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) hit a new 52-week high during trading on Tuesday . The company traded as high as $47.54 and last traded at $47.49, with a volume of 16669 shares trading hands. The stock had previously closed at $46.80.

Analysts Set New Price Targets

LOB has been the topic of a number of analyst reports. Piper Sandler increased their price target on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Truist Financial upped their price objective on shares of Live Oak Bancshares from $38.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Live Oak Bancshares has an average rating of “Hold” and an average target price of $47.25.

Live Oak Bancshares Price Performance

The stock has a market cap of $2.18 billion, a P/E ratio of 24.39 and a beta of 1.60. The stock’s 50 day simple moving average is $42.03 and its two-hundred day simple moving average is $38.23.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.46 by $0.13. The business had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. During the same period in the previous year, the firm posted $0.39 EPS. As a group, analysts forecast that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp bought a new position in Live Oak Bancshares in the second quarter valued at approximately $312,000. Squarepoint Ops LLC boosted its holdings in shares of Live Oak Bancshares by 32.0% in the 2nd quarter. Squarepoint Ops LLC now owns 14,848 shares of the bank’s stock valued at $521,000 after buying an additional 3,596 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Live Oak Bancshares by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock valued at $54,701,000 after buying an additional 15,496 shares in the last quarter. Sei Investments Co. increased its holdings in Live Oak Bancshares by 268.1% during the second quarter. Sei Investments Co. now owns 22,630 shares of the bank’s stock worth $793,000 after buying an additional 16,482 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in Live Oak Bancshares during the second quarter worth $166,000. 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.