Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $40.76, but opened at $38.00. Live Oak Bancshares shares last traded at $35.00, with a volume of 42,672 shares changing hands.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in 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 reduced their price objective 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. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $44.00 target price (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.75.
Get Our Latest Analysis on LOB
Live Oak Bancshares Stock Performance
The company's fifty day moving average price is $42.25 and its two-hundred day moving average price is $43.19. The firm has a market capitalization of $1.59 billion, a PE ratio of 24.23 and a beta of 1.69.
Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last announced its quarterly 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). The company had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. Live Oak Bancshares had a net margin of 7.10% and a return on equity of 6.88%. During the same quarter last year, the business earned $0.88 EPS. On average, equities analysts expect that Live Oak Bancshares, Inc. will post 2.52 earnings per share for the current year.
Live Oak Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, December 2nd. Live Oak Bancshares's dividend payout ratio (DPR) is presently 8.28%.
Insiders Place Their Bets
In other news, CAO John W. Sutherland sold 12,588 shares of the firm's stock in a transaction on 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 owns 14,015 shares of the company's stock, valued at approximately $686,735. This trade represents a 47.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Henderson Cameron purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average cost of $39.76 per share, with a total value of $39,760.00. Following the completion of the transaction, the director now owns 202,217 shares in the company, valued at $8,040,147.92. This trade represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Live Oak Bancshares
A number of large investors have recently modified their holdings of the stock. Quarry LP increased its stake in Live Oak Bancshares by 98.6% during the 3rd quarter. Quarry LP now owns 713 shares of the bank's stock worth $34,000 after buying an additional 354 shares during the period. nVerses Capital LLC increased its position in shares of Live Oak Bancshares by 87.5% during the third 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 last quarter. New York State Teachers Retirement System lifted its stake in shares of Live Oak Bancshares by 161.4% in the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank's stock worth $150,000 after acquiring an additional 1,954 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Live Oak Bancshares in the third quarter worth about $205,000. Finally, Entropy Technologies LP purchased a new position in Live Oak Bancshares in the third quarter valued at about $205,000. Institutional investors and hedge funds own 63.95% of the company's stock.
About Live Oak Bancshares
(
Get Free Report)
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.
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