Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $45.50 Consensus Price Target from Analysts

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) has been given an average recommendation of "Moderate Buy" by the four analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $45.50.

Several research analysts have recently commented on the stock. Piper Sandler dropped their price target on shares of 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. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Finally, Truist Financial decreased their price target on 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.

Insider Activity

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the transaction, the chief accounting officer now directly owns 26,603 shares of the company's stock, valued at $1,143,929. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at $1,143,929. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Henderson Cameron acquired 1,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were bought at an average cost of $39.76 per share, with a total value of $39,760.00. Following the transaction, the director now directly owns 202,217 shares of the company's stock, valued at $8,040,147.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by company insiders.

Institutional Trading of Live Oak Bancshares

Hedge funds have recently modified their holdings of the company. 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 worth $71,000 after acquiring an additional 700 shares during the period. Quest Partners LLC lifted its stake 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 purchasing an additional 823 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Live Oak Bancshares by 1,885.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank's stock worth $81,000 after purchasing an additional 2,206 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Live Oak Bancshares during the first quarter valued at approximately $129,000. Finally, New York State Teachers Retirement System grew its stake in shares of Live Oak Bancshares by 161.4% in the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank's stock valued at $150,000 after purchasing an additional 1,954 shares during the period. Institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Trading Up 17.1 %

LOB stock traded up $7.22 during mid-day trading on Wednesday, hitting $49.48. The stock had a trading volume of 642,929 shares, compared to its average volume of 190,542. Live Oak Bancshares has a 1-year low of $29.26 and a 1-year high of $50.57. The company has a fifty day moving average of $45.12 and a 200 day moving average of $39.80. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 31.12 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 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 analyst estimates of $126.63 million. Live Oak Bancshares had a return on equity of 7.81% and a net margin of 7.99%. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, sell-side analysts expect that Live Oak Bancshares will post 2.16 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares's dividend payout ratio (DPR) is 7.55%.

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.