Piper Sandler Cuts Live Oak Bancshares (NASDAQ:LOB) Price Target to $35.00

Live Oak Bancshares (NASDAQ:LOB) had its price objective decreased by Piper Sandler from $37.00 to $35.00 in a research report report published on Friday, Marketbeat reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other brokerages have also issued reports on LOB. Cantor Fitzgerald assumed coverage on Live Oak Bancshares in a research report on Wednesday, September 10th. They set a “neutral” rating and a $42.00 target price for the company. National Bankshares set a $50.00 target price on Live Oak Bancshares in a research report on Wednesday, September 24th. Keefe, Bruyette & Woods raised Live Oak Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $37.00 to $43.00 in a research report on Tuesday, August 19th. Finally, Cowen assumed coverage on Live Oak Bancshares in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Live Oak Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $43.20.

Live Oak Bancshares Stock Up 2.3%

Shares of NASDAQ:LOB opened at $34.29 on Friday. The firm has a market cap of $1.57 billion, a P/E ratio of 23.65 and a beta of 1.81. Live Oak Bancshares has a 12-month low of $22.68 and a 12-month high of $50.17. The business has a fifty day simple moving average of $36.16 and a 200 day simple moving average of $31.50.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a sep 25 dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a dividend yield of 32.0%. Live Oak Bancshares’s dividend payout ratio (DPR) is 8.05%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of Live Oak Bancshares in the 3rd quarter worth about $63,000. Benjamin Edwards Inc. raised its position in shares of Live Oak Bancshares by 16.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 14,368 shares of the bank’s stock worth $506,000 after acquiring an additional 2,052 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Live Oak Bancshares by 177.7% in the 3rd quarter. SG Americas Securities LLC now owns 23,632 shares of the bank’s stock valued at $832,000 after buying an additional 15,123 shares during the period. Park Avenue Securities LLC grew its stake in shares of Live Oak Bancshares by 23.7% in the 3rd quarter. Park Avenue Securities LLC now owns 11,749 shares of the bank’s stock valued at $414,000 after buying an additional 2,250 shares during the period. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Live Oak Bancshares by 22.4% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 8,200 shares of the bank’s stock valued at $289,000 after buying an additional 1,500 shares during the period. 63.95% of the stock is owned by institutional investors.

About Live Oak Bancshares

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.