Live Oak Bancshares (NASDAQ:LOB) Price Target Raised to $57.00 at Truist Financial

Live Oak Bancshares (NASDAQ:LOB) had its target price upped by Truist Financial from $51.00 to $57.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a buy rating on the bank’s stock.

LOB has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an overweight rating on the stock in a report on Thursday, June 27th. Keefe, Bruyette & Woods restated a market perform rating and set a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Piper Sandler lifted their price objective on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a neutral rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Live Oak Bancshares currently has a consensus rating of Hold and a consensus target price of $48.75.

Live Oak Bancshares Stock Down 0.6 %

Shares of NASDAQ:LOB opened at $48.62 on Friday. The firm has a fifty day moving average of $42.72 and a two-hundred day moving average of $38.42. Live Oak Bancshares has a 12-month low of $26.11 and a 12-month high of $50.57. The firm has a market capitalization of $2.19 billion, a P/E ratio of 24.43 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $123.08 million. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts expect that Live Oak Bancshares will post 2.32 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

Insider Activity

In related news, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOB. Toth Financial Advisory Corp grew its position in Live Oak Bancshares by 10.7% in the 1st quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock worth $138,000 after purchasing an additional 320 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Live Oak Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock valued at $251,000 after buying an additional 476 shares during the period. Cetera Advisors LLC grew its position in Live Oak Bancshares by 9.2% during the first quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock worth $245,000 after buying an additional 500 shares in the last quarter. Riverview Trust Co bought a new position in Live Oak Bancshares during the first quarter valued at about $28,000. Finally, Chatham Capital Group Inc. raised its holdings in Live Oak Bancshares by 1.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock valued at $1,536,000 after acquiring an additional 735 shares in the last quarter. Institutional investors and hedge funds 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.