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

Live Oak Bancshares (NASDAQ:LOB)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research report issued on Friday, Benzinga reports. They presently have a $47.00 price target on the bank’s stock, up from their previous price target of $40.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 5.62% from the stock’s previous close.

Several other equities analysts also recently commented on LOB. Truist Financial cut their target price on Live Oak Bancshares from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. cut their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.00.

Live Oak Bancshares Trading Up 3.8 %

Shares of NASDAQ:LOB opened at $44.50 on Friday. Live Oak Bancshares has a 1-year low of $26.11 and a 1-year high of $47.22. The firm has a market capitalization of $2.00 billion, a PE ratio of 22.36 and a beta of 1.62. The business’s 50 day moving average is $35.22 and its 200-day moving average is $37.47.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.46 by $0.13. The business had revenue of $232.61 million during the quarter, compared to the consensus estimate of $123.08 million. Live Oak Bancshares had a return on equity of 11.13% and a net margin of 11.22%. During the same quarter last year, the company earned $0.39 EPS. On average, sell-side analysts predict that Live Oak Bancshares will post 1.93 EPS for the current year.

Insider Activity

In other news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares 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 completion of the sale, the director now directly owns 5,870 shares of the company’s stock, valued at approximately $211,143.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.90% of the company’s stock.

Institutional Investors Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of Live Oak Bancshares during the first quarter worth $28,000. Independence Bank of Kentucky bought a new stake in shares of Live Oak Bancshares in the first quarter valued at about $44,000. Blue Trust Inc. raised its holdings 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 worth $97,000 after acquiring an additional 1,962 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Live Oak Bancshares during the first quarter worth about $129,000. Finally, Toth Financial Advisory Corp raised its holdings in Live Oak Bancshares by 34.8% during the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after acquiring an additional 775 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

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.