Live Oak Bancshares (NYSE:LOB) Stock Gets Price Target Cut from TD Cowen

Live Oak Bancshares (NYSE:LOB) had its price target decreased by research analysts at TD Cowen from $44.00 to $41.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen‘s price objective indicates a potential upside of 15.87% from the company’s previous close.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler lowered their target price on Live Oak Bancshares from $46.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Zacks Research downgraded Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Cantor Fitzgerald dropped 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. Finally, Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and a consensus price target of $41.75.

Live Oak Bancshares Price Performance

LOB stock traded up $0.23 during mid-day trading on Monday, reaching $35.38. The company had a trading volume of 34,817 shares, compared to its average volume of 267,639. The company has a market capitalization of $1.64 billion, a PE ratio of 12.59 and a beta of 1.94. The firm has a 50 day moving average of $37.84 and a 200 day moving average of $38.75. Live Oak Bancshares has a 12 month low of $29.36 and a 12 month high of $44.53.

Live Oak Bancshares (NYSE:LOB) last issued its earnings results on Wednesday, October 21st. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). Live Oak Bancshares had a return on equity of 11.56% and a net margin of 12.22%. The company had revenue of $175.65 million for the quarter, compared to analysts’ expectations of $167.50 million. Analysts anticipate that Live Oak Bancshares will post 2.92 EPS for the current year.

Insider Buying and Selling

In other Live Oak Bancshares news, Director David G. Lucht sold 2,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.36, for a total transaction of $88,720.00. Following the completion of the sale, the director directly owned 13,623 shares of the company’s stock, valued at approximately $604,316.28. This represents a 12.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tonya Bradford sold 1,600 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $39.89, for a total transaction of $63,824.00. Following the completion of the sale, the director owned 8,043 shares in the company, valued at $320,835.27. This represents a 16.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,654 shares of company stock worth $1,114,424 over the last ninety days. 22.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. lifted its holdings in Live Oak Bancshares by 3.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 16,857 shares of the company’s stock worth $688,000 after buying an additional 499 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Live Oak Bancshares by 117.2% in the 3rd quarter. Sterling Capital Management LLC now owns 949 shares of the company’s stock valued at $34,000 after acquiring an additional 512 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Live Oak Bancshares in the 2nd quarter valued at about $36,000. Inspire Investing LLC increased its holdings in shares of Live Oak Bancshares by 5.6% in the 3rd quarter. Inspire Investing LLC now owns 17,488 shares of the company’s stock valued at $633,000 after acquiring an additional 927 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Live Oak Bancshares by 98.9% during the 3rd quarter. Versant Capital Management Inc now owns 2,080 shares of the company’s stock worth $75,000 after acquiring an additional 1,034 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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.