Keefe, Bruyette & Woods Reiterates "Market Perform" Rating for Live Oak Bancshares (NASDAQ:LOB)

Live Oak Bancshares (NASDAQ:LOB - Get Free Report)'s stock had its "market perform" rating restated by investment analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday,Benzinga reports. They currently have a $44.00 target price on the bank's stock, down from their previous target price of $48.00. Keefe, Bruyette & Woods' target price would indicate a potential upside of 25.24% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. Truist Financial cut their target price on shares of Live Oak Bancshares from $57.00 to $46.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Piper Sandler cut 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. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.75.

Live Oak Bancshares Trading Up 0.2 %

LOB stock traded up $0.06 during trading on Friday, reaching $35.13. 284,343 shares of the stock were exchanged, compared to its average volume of 183,290. Live Oak Bancshares has a twelve month low of $31.03 and a twelve month high of $50.57. The company has a market capitalization of $1.59 billion, a P/E ratio of 24.23 and a beta of 1.69. The stock has a 50 day simple moving average of $42.51 and a 200-day simple moving average of $43.18.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 6.88% and a net margin of 7.10%. The firm had revenue of $241.87 million for the quarter, compared to analyst estimates of $126.63 million. During the same period last year, the business earned $0.88 earnings per share. Equities analysts predict that Live Oak Bancshares will post 2.52 EPS for the current year.

Insiders Place Their Bets

In other Live Oak Bancshares news, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total value of $616,812.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Henderson Cameron bought 1,000 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price 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 approximately $8,040,147.92. This represents a 0.50 % 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.

Hedge Funds Weigh In On Live Oak Bancshares

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Live Oak Bancshares by 1.8% in the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock worth $36,658,000 after purchasing an additional 13,824 shares during the period. Barclays PLC grew its holdings in Live Oak Bancshares by 130.5% in the third quarter. Barclays PLC now owns 73,577 shares of the bank's stock worth $3,485,000 after purchasing an additional 41,662 shares during the period. JPMorgan Chase & Co. grew its holdings in Live Oak Bancshares by 195.3% in the third quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank's stock worth $3,888,000 after purchasing an additional 54,286 shares during the period. HighTower Advisors LLC acquired a new stake in Live Oak Bancshares in the third quarter worth $364,000. Finally, Stifel Financial Corp grew its holdings in Live Oak Bancshares by 59.5% in the third quarter. Stifel Financial Corp now owns 19,720 shares of the bank's stock worth $934,000 after purchasing an additional 7,357 shares during the period. Institutional investors own 63.95% of the company's stock.

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.