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

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) have received an average recommendation of “Moderate Buy” from the four brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $45.50.

A number of analysts have recently weighed in on LOB shares. Piper Sandler reduced their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Truist Financial reduced their price objective on 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.

Live Oak Bancshares Stock Performance

LOB opened at $39.57 on Thursday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 24.89 and a beta of 1.66. The company has a fifty day moving average of $44.51 and a 200 day moving average of $42.57. Live Oak Bancshares has a fifty-two week low of $31.03 and a fifty-two week high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The firm had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. During the same period in the previous year, the firm earned $0.88 EPS. On average, equities research analysts forecast that Live Oak Bancshares will post 1.97 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.03 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.12 annualized dividend and a yield of 0.30%. Live Oak Bancshares’s payout ratio is 7.55%.

Insider Buying and Selling

In related news, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the acquisition, the director now directly owns 202,217 shares of the company’s stock, valued at $8,040,147.92. This represents a 0.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total transaction of $616,812.00. Following the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at $686,735. This represents a 47.32 % decrease in their position. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. 49 Wealth Management LLC increased its position in Live Oak Bancshares by 2.1% during the 3rd quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after purchasing an additional 212 shares during the period. Quarry LP increased its holdings in Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 354 shares during the period. FMR LLC raised its stake in Live Oak Bancshares by 15.0% in the third quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after buying an additional 568 shares in the last quarter. nVerses Capital LLC raised its stake in Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after buying an additional 700 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after buying an additional 823 shares during the period. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

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.