Live Oak Bancshares (NASDAQ:LOB) Given New $51.00 Price Target at Truist Financial

Live Oak Bancshares (NASDAQ:LOB) had its price target hoisted by equities research analysts at Truist Financial from $38.00 to $51.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s price target points to a potential upside of 16.41% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Piper Sandler lifted their price target on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. lowered 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 report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.25.

Live Oak Bancshares Stock Down 4.1 %

Shares of NASDAQ:LOB traded down $1.85 during trading on Monday, hitting $43.81. The stock had a trading volume of 128,145 shares, compared to its average volume of 179,885. The company has a market capitalization of $1.97 billion, a PE ratio of 22.09 and a beta of 1.62. The firm’s fifty day moving average is $35.57 and its 200 day moving average is $37.49. Live Oak Bancshares has a 12 month low of $26.11 and a 12 month high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 11.13% and a net margin of 11.22%. The business had revenue of $232.61 million during the quarter, compared to the consensus estimate of $123.08 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. Equities research analysts expect that Live Oak Bancshares will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling at Live Oak Bancshares

In related news, Director Tonya Williams Bradford sold 2,600 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total value of $93,522.00. Following the transaction, the director now directly owns 5,870 shares of the company’s stock, valued at approximately $211,143.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LOB. Riverview Trust Co purchased a new stake in shares of Live Oak Bancshares during the first quarter worth about $28,000. Independence Bank of Kentucky bought a new stake in shares of Live Oak Bancshares in the first quarter worth about $44,000. Allspring Global Investments Holdings LLC lifted its position in shares of Live Oak Bancshares by 1,885.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after buying an additional 2,206 shares in the last quarter. Blue Trust Inc. boosted its stake in Live Oak Bancshares by 1,127.6% during the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after buying an additional 1,962 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Live Oak Bancshares during the 1st quarter valued at approximately $129,000. 63.95% of the stock is currently 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.