Live Oak Bancshares, Inc. (NASDAQ:LOB) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) have received an average 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 recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $45.50.

A number of analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of 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. 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.

Live Oak Bancshares Price Performance

NASDAQ LOB traded up $0.16 during trading hours on Thursday, hitting $39.76. The company had a trading volume of 84,890 shares, compared to its average volume of 183,310. The firm's 50 day moving average is $44.92 and its 200 day moving average is $42.40. Live Oak Bancshares has a fifty-two week low of $31.03 and a fifty-two week high of $50.57. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 25.01 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.25). The company had revenue of $241.87 million during the quarter, compared to analysts' expectations 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 company earned $0.88 EPS. On average, equities analysts anticipate that Live Oak Bancshares will post 1.97 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. Live Oak Bancshares's dividend payout ratio (DPR) is presently 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In related news, 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 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 approximately $686,735. This represents a 47.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Henderson Cameron bought 1,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were acquired at an average price of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now owns 202,217 shares of the company's stock, valued at $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Live Oak Bancshares by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank's stock worth $54,701,000 after buying an additional 15,496 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Live Oak Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank's stock valued at $49,169,000 after acquiring an additional 48,018 shares during the period. State Street Corp grew its position in shares of Live Oak Bancshares by 13.4% during the third quarter. State Street Corp now owns 1,109,413 shares of the bank's stock worth $52,553,000 after acquiring an additional 131,343 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock worth $36,658,000 after acquiring an additional 13,824 shares during the period. Finally, abrdn plc acquired a new stake in shares of Live Oak Bancshares in the 3rd quarter worth about $14,501,000. 63.95% of the stock is owned by institutional investors and hedge funds.

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.