Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $48.75 Consensus Target Price from Brokerages

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the four ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $48.75.

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods restated a "market perform" rating and set a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Truist Financial upped their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the company a "buy" rating in a research report on Friday, September 20th. Piper Sandler upped their price objective on Live Oak Bancshares from $36.00 to $46.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, June 27th.

Insider Transactions at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 20,000 shares of the 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 sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at approximately $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank purchased a new position in Live Oak Bancshares during the 2nd quarter valued at about $542,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Live Oak Bancshares in the 1st quarter worth approximately $1,350,000. Vanguard Group Inc. grew its position in shares of Live Oak Bancshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank's stock worth $105,273,000 after buying an additional 27,086 shares during the last quarter. Capital International Investors purchased a new position in shares of Live Oak Bancshares in the 1st quarter worth approximately $18,628,000. Finally, Russell Investments Group Ltd. grew its position in shares of Live Oak Bancshares by 1.7% in the 1st quarter. Russell Investments Group Ltd. now owns 118,609 shares of the bank's stock worth $4,923,000 after buying an additional 1,961 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Trading Up 4.2 %

Shares of NASDAQ:LOB traded up $1.90 during mid-day trading on Friday, reaching $47.25. The stock had a trading volume of 161,735 shares, compared to its average volume of 177,239. The company has a market cap of $2.12 billion, a P/E ratio of 23.74 and a beta of 1.60. Live Oak Bancshares has a 1 year low of $26.11 and a 1 year high of $50.57. The business's 50 day moving average price is $43.63 and its 200 day moving average price is $39.12.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last posted its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.13. The company had revenue of $232.61 million for the quarter, compared to the consensus estimate of $123.08 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same period in the previous year, the business earned $0.39 earnings per share. Analysts predict that Live Oak Bancshares will post 2.31 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. Live Oak Bancshares's payout ratio is 6.03%.

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.