Live Oak Bancshares, Inc. (NYSE:LOB) Receives $44.40 Consensus Price Target from Brokerages

Shares of Live Oak Bancshares, Inc. (NYSE:LOB) have received a consensus rating of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $44.40.

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Weiss Ratings raised Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Zacks Research raised Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Piper Sandler raised their price target on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, TD Cowen cut their target price on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, April 27th.

Insiders Place Their Bets

In other news, insider Renato Derraik sold 75,000 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the sale, the insider directly owned 4,243 shares of the company’s stock, valued at $160,512.69. The trade was a 94.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William L. Williams III sold 8,400 shares of Live Oak Bancshares stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $40.05, for a total value of $336,420.00. Following the transaction, the director owned 1,130,926 shares in the company, valued at $45,293,586.30. This represents a 0.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Live Oak Bancshares by 157.4% in the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after purchasing an additional 905 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Live Oak Bancshares in the fourth quarter worth about $55,000. Blue Trust Inc. lifted its position in shares of Live Oak Bancshares by 671.6% in the first quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock worth $70,000 after buying an additional 1,847 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Live Oak Bancshares by 138.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock worth $95,000 after buying an additional 1,850 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Live Oak Bancshares by 15.0% in the fourth quarter. CWM LLC now owns 4,926 shares of the company’s stock worth $169,000 after buying an additional 642 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Up 0.9%

Shares of NYSE LOB opened at $41.32 on Tuesday. Live Oak Bancshares has a fifty-two week low of $29.36 and a fifty-two week high of $42.89. The business has a 50 day moving average price of $37.70 and a two-hundred day moving average price of $36.81. The firm has a market cap of $1.91 billion, a PE ratio of 15.83 and a beta of 1.89.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $145.47 million during the quarter, compared to analyst estimates of $146.02 million. Live Oak Bancshares had a return on equity of 11.18% and a net margin of 11.79%. On average, analysts anticipate that Live Oak Bancshares will post 2.95 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. Live Oak Bancshares’s payout ratio is currently 4.60%.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.