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

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the four research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $45.50.

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective 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 price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating for the company in a research report on Friday, October 25th.

Live Oak Bancshares Price Performance

LOB stock traded down $0.79 during mid-day trading on Friday, hitting $47.40. 116,113 shares of the stock were exchanged, compared to its average volume of 238,986. The business has a fifty day moving average price of $46.28 and a 200 day moving average price of $41.27. Live Oak Bancshares has a 12 month low of $31.03 and a 12 month high of $50.57. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 29.81 and a beta of 1.63.

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 7.65% and a net margin of 7.99%. The firm had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, equities analysts forecast that Live Oak Bancshares will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.12 annualized dividend and a yield of 0.25%. Live Oak Bancshares's payout ratio is currently 7.55%.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director William Henderson Cameron bought 1,000 shares of the stock in a transaction dated 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 completion of the acquisition, the director now owns 202,217 shares of the company's stock, valued at approximately $8,040,147.92. This trade represents a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO John W. Sutherland sold 12,588 shares of the company'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 completion of the sale, the chief accounting officer now owns 14,015 shares in the company, valued at $686,735. The trade was a 47.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.90% of the company's stock.

Institutional Trading of Live Oak Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP lifted its position 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 purchasing an additional 354 shares during the period. nVerses Capital LLC lifted its holdings in shares of Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank's stock valued at $71,000 after buying an additional 700 shares during the period. Quest Partners LLC boosted its stake in shares of Live Oak Bancshares by 68.4% in the 2nd 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 last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Live Oak Bancshares by 1,885.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank's stock worth $81,000 after acquiring an additional 2,206 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Live Oak Bancshares during the first quarter valued at $129,000. 63.95% of the stock is currently owned by 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.