Live Oak Bancshares, Inc. (NYSE:LOB – Get Free Report) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $41.75.
Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. TD Cowen lowered their price target on shares of Live Oak Bancshares from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Cantor Fitzgerald cut their price target on Live Oak Bancshares from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Piper Sandler reduced their price objective on Live Oak Bancshares from $46.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Finally, Zacks Research cut Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st.
Read Our Latest Stock Analysis on LOB
Live Oak Bancshares Stock Down 0.2%
Shares of NYSE LOB opened at $34.41 on Monday. The business’s 50 day moving average price is $37.17 and its 200 day moving average price is $38.08. The firm has a market cap of $1.59 billion, a P/E ratio of 12.25 and a beta of 1.79. Live Oak Bancshares has a 52 week low of $29.36 and a 52 week high of $44.53.
Live Oak Bancshares (NYSE:LOB – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). The business had revenue of $175.65 million for the quarter, compared to analyst estimates of $167.50 million. Live Oak Bancshares had a net margin of 12.22% and a return on equity of 11.56%. As a group, research analysts expect that Live Oak Bancshares will post 2.78 earnings per share for the current year.
Live Oak Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio (DPR) is 4.27%.
Insider Buying and Selling
In other Live Oak Bancshares news, General Counsel Gregory W. Seward sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $35.31, for a total value of $176,550.00. Following the sale, the general counsel owned 108,797 shares in the company, valued at approximately $3,841,622.07. This represents a 4.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David G. Lucht sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total transaction of $88,720.00. Following the sale, the director directly owned 13,623 shares in the company, valued at $604,316.28. The trade was a 12.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,154 shares of company stock valued at $672,414 in the last ninety days. Insiders own 22.40% of the company’s stock.
Hedge Funds Weigh In On Live Oak Bancshares
Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Live Oak Bancshares during the second quarter valued at $143,588,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Live Oak Bancshares in the second quarter worth about $55,546,000. William Blair Investment Management LLC acquired a new position in shares of Live Oak Bancshares in the second quarter worth about $23,247,000. The Manufacturers Life Insurance Company acquired a new position in shares of Live Oak Bancshares in the second quarter worth about $11,563,000. Finally, Bank of America Corp DE acquired a new stake in shares of Live Oak Bancshares during the 2nd quarter valued at about $9,394,000. 63.95% of the stock is currently owned by institutional investors and hedge funds.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is the parent company of Live Oak Bank, a digital-focused financial institution headquartered in Wilmington, North Carolina. Founded in 2008, the company specializes in providing banking services to small and mid-sized businesses, with a particular emphasis on loans to owners of professional and industry-specific businesses.
Through Live Oak Bank, the company offers commercial lending, Small Business Administration (SBA) loans, business deposits, treasury management and other financial services.
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