Raymond James upgraded shares of Live Oak Bancshares (NASDAQ:LOB) from an outperform rating to a strong-buy rating in a report released on Monday, AR Network reports. The brokerage currently has $42.00 price target on the bank’s stock, up from their prior price target of $27.00.
Several other brokerages have also recently commented on LOB. Truist raised their target price on Live Oak Bancshares from $23.00 to $28.00 in a research report on Thursday, September 10th. BidaskClub raised Live Oak Bancshares from a buy rating to a strong-buy rating in a research report on Friday, September 4th. ValuEngine cut Live Oak Bancshares from a buy rating to a hold rating in a research report on Monday, August 3rd. Finally, Zacks Investment Research upgraded Live Oak Bancshares from a sell rating to a strong-buy rating and set a $18.00 price objective for the company in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $54.20.
LOB opened at $36.81 on Monday. Live Oak Bancshares has a 1-year low of $7.57 and a 1-year high of $37.72. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 230.06 and a beta of 1.25. The business has a 50 day moving average of $28.19 and a 200-day moving average of $18.83.
Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, October 21st. The bank reported $0.83 EPS for the quarter, topping the consensus estimate of $0.27 by $0.56. Live Oak Bancshares had a return on equity of 1.34% and a net margin of 2.15%. Equities research analysts anticipate that Live Oak Bancshares will post 0.62 EPS for the current fiscal year.
In other Live Oak Bancshares news, CEO James S. Mahan III bought 21,200 shares of the stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $19.30 per share, for a total transaction of $409,160.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James S. Mahan III bought 25,000 shares of the stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of $19.25 per share, with a total value of $481,250.00. The disclosure for this purchase can be found here. Insiders have acquired 288,604 shares of company stock valued at $7,326,892 over the last quarter. Corporate insiders own 25.10% of the company’s stock.
Several large investors have recently made changes to their positions in LOB. BNP Paribas Arbitrage SA increased its stake in shares of Live Oak Bancshares by 168.0% in the first quarter. BNP Paribas Arbitrage SA now owns 8,176 shares of the bank’s stock valued at $102,000 after buying an additional 5,125 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Live Oak Bancshares by 1.4% in the first quarter. Nuveen Asset Management LLC now owns 153,038 shares of the bank’s stock valued at $1,909,000 after acquiring an additional 2,150 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Live Oak Bancshares by 5.9% in the first quarter. Alliancebernstein L.P. now owns 28,800 shares of the bank’s stock valued at $359,000 after acquiring an additional 1,600 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Live Oak Bancshares by 5.5% in the first quarter. Geode Capital Management LLC now owns 402,663 shares of the bank’s stock valued at $5,021,000 after acquiring an additional 20,836 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Live Oak Bancshares by 8.9% in the first quarter. Wells Fargo & Company MN now owns 60,916 shares of the bank’s stock valued at $759,000 after acquiring an additional 4,961 shares during the last quarter. Institutional investors own 43.01% of the company’s stock.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. 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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