Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $47.25 Average Target Price from Brokerages

Live Oak Bancshares, Inc. (NASDAQ:LOB) has earned a consensus recommendation of “Moderate Buy” from the four research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $48.75.

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Piper Sandler boosted their price target on Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Truist Financial increased their price objective on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th.

Live Oak Bancshares Trading Down 1.7 %

NASDAQ LOB opened at $48.89 on Tuesday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 24.57 and a beta of 1.60. Live Oak Bancshares has a 12 month low of $26.11 and a 12 month high of $50.57. The company’s 50 day moving average is $42.53 and its two-hundred day moving average is $38.38.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. The company had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. During the same quarter in the previous year, the company earned $0.39 EPS. Sell-side analysts forecast that Live Oak Bancshares will post 2.32 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The company 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. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

Insider Transactions at Live Oak Bancshares

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 sale, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at $1,143,929. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank bought a new stake in shares of Live Oak Bancshares in the 2nd quarter valued at approximately $542,000. Dimensional Fund Advisors LP boosted its stake in Live Oak Bancshares by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock worth $60,415,000 after buying an additional 61,029 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Live Oak Bancshares during the first quarter worth $1,350,000. Vanguard Group Inc. increased its position in Live Oak Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock valued at $105,273,000 after acquiring an additional 27,086 shares during the last quarter. Finally, Capital International Investors purchased a new stake in shares of Live Oak Bancshares in the first quarter valued at $18,628,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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.