Live Oak Bancshares (NASDAQ:LOB - Get Free Report) had its price objective reduced by equities research analysts at Piper Sandler from $50.00 to $44.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. Piper Sandler's target price indicates a potential upside of 10.97% from the stock's previous close.
A number of other research analysts have also recently weighed in on LOB. Truist Financial lifted their target price on Live Oak Bancshares from $51.00 to $57.00 and gave the company a "buy" rating in a report on Friday, September 20th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares currently has a consensus rating of "Hold" and a consensus target price of $48.25.
Get Our Latest Stock Analysis on Live Oak Bancshares
Live Oak Bancshares Stock Performance
Live Oak Bancshares stock traded down $2.18 during midday trading on Friday, reaching $39.65. The stock had a trading volume of 261,905 shares, compared to its average volume of 177,901. Live Oak Bancshares has a twelve month low of $27.79 and a twelve month high of $50.57. The stock has a market capitalization of $1.79 billion, a PE ratio of 21.36 and a beta of 1.60. The stock's 50-day simple moving average is $45.13 and its 200 day simple moving average is $39.59.
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 analysts' consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The firm had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same quarter in the previous year, the business posted $0.88 EPS. Equities analysts predict that Live Oak Bancshares will post 2.31 earnings per share for the current fiscal year.
Insider Transactions at Live Oak Bancshares
In other news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares of the company's stock, valued at approximately $1,143,929. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.90% of the company's stock.
Hedge Funds Weigh In On Live Oak Bancshares
Hedge funds have recently bought and sold shares of the company. First Hawaiian Bank acquired a new position in Live Oak Bancshares in the second quarter worth about $542,000. Jacobs Levy Equity Management Inc. acquired a new position in Live Oak Bancshares in the first quarter worth about $1,350,000. Vanguard Group Inc. grew its stake in Live Oak Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank's stock worth $105,273,000 after purchasing an additional 27,086 shares in the last quarter. Capital International Investors acquired a new position in Live Oak Bancshares in the first quarter valued at approximately $18,628,000. Finally, Russell Investments Group Ltd. boosted its stake in Live Oak Bancshares by 1.7% in the first quarter. Russell Investments Group Ltd. now owns 118,609 shares of the bank's stock valued at $4,923,000 after acquiring an additional 1,961 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.
Live Oak Bancshares Company Profile
(
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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