Analysts Set Live Oak Bancshares, Inc. (NASDAQ:LOB) Price Target at $47.25

Live Oak Bancshares, Inc. (NASDAQ:LOB) has received a consensus recommendation of “Moderate Buy” from the four ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $48.75.

LOB has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Truist Financial boosted their price target on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Piper Sandler lifted their price objective on Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, July 29th.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB opened at $48.89 on Tuesday. Live Oak Bancshares has a 1 year low of $26.11 and a 1 year high of $50.57. The company’s 50-day moving average is $42.53 and its 200 day moving average is $38.38. The stock has a market capitalization of $2.20 billion, a P/E ratio of 24.57 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The firm had revenue of $232.61 million during the quarter, compared to analyst estimates of $123.08 million. During the same quarter in the prior year, the company earned $0.39 EPS. Research analysts anticipate that Live Oak Bancshares will post 2.32 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 6.03%.

Insider Activity at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the transaction, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 23.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Oak Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. Riverview Trust Co bought a new stake in Live Oak Bancshares during the first quarter valued at approximately $28,000. Independence Bank of Kentucky purchased a new position in shares of Live Oak Bancshares during the 1st quarter worth $44,000. Quest Partners LLC grew its position in shares of Live Oak Bancshares by 68.4% during the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after acquiring an additional 823 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after purchasing an additional 2,206 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Live Oak Bancshares in the 1st quarter worth $129,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

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.