Live Oak Bancshares (NASDAQ:LOB) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a report issued on Friday, Benzinga reports. The firm currently has a $40.00 price target on the bank’s stock, down from their prior price target of $45.00.

Other analysts have also issued reports about the company. Truist Financial reiterated a buy rating and set a $47.00 price objective on shares of Live Oak Bancshares in a research note on Monday, April 1st. TheStreet downgraded shares of Live Oak Bancshares from a b- rating to a c+ rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $38.00.

Live Oak Bancshares Trading Up 0.8 %

Live Oak Bancshares stock opened at $33.44 on Friday. The firm has a 50 day simple moving average of $39.11 and a 200 day simple moving average of $37.51. Live Oak Bancshares has a 1-year low of $19.53 and a 1-year high of $47.22. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.80 and a beta of 1.60.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were paid a $0.03 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.12 dividend on an annualized basis and a yield of 0.36%. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Insider Activity

In other news, insider Micah S. Davis sold 8,613 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now owns 43,864 shares in the company, valued at approximately $1,748,857.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total transaction of $343,400.31. Following the transaction, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LOB. Signaturefd LLC lifted its position in shares of Live Oak Bancshares by 1.0% in the 4th quarter. Signaturefd LLC now owns 28,333 shares of the bank’s stock worth $1,289,000 after purchasing an additional 294 shares during the period. Toth Financial Advisory Corp raised its stake in Live Oak Bancshares by 10.7% in the first quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock worth $138,000 after buying an additional 320 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Live Oak Bancshares by 66.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after buying an additional 551 shares during the period. Parsons Capital Management Inc. RI boosted its position in Live Oak Bancshares by 4.5% during the 1st quarter. Parsons Capital Management Inc. RI now owns 13,800 shares of the bank’s stock valued at $573,000 after acquiring an additional 600 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Live Oak Bancshares during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 63.95% 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 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.