Live Oak Bancshares, Inc. (NASDAQ:LOB) Given Average Recommendation of “Hold” by Brokerages

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOBGet Rating) have been given an average recommendation of “Hold” by the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $45.33.

A number of brokerages have weighed in on LOB. Truist Financial lifted their target price on Live Oak Bancshares from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 15th. JPMorgan Chase & Co. lowered Live Oak Bancshares from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $58.00 to $41.00 in a research report on Friday, July 1st. Piper Sandler decreased their target price on Live Oak Bancshares from $51.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, June 29th. TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c” rating in a research report on Thursday, June 23rd. Finally, Raymond James lowered Live Oak Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th.

Live Oak Bancshares Stock Up 2.8 %

LOB opened at $35.61 on Monday. The business has a fifty day moving average of $36.41 and a 200 day moving average of $42.36. Live Oak Bancshares has a 52-week low of $30.24 and a 52-week high of $99.89. The stock has a market cap of $1.56 billion, a P/E ratio of 8.21 and a beta of 1.53.

Live Oak Bancshares (NASDAQ:LOBGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $1.65. Live Oak Bancshares had a return on equity of 26.88% and a net margin of 32.74%. The company had revenue of $208.46 million during the quarter, compared to analysts’ expectations of $97.90 million. Equities analysts anticipate that Live Oak Bancshares will post 2.22 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Tuesday, September 6th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $0.12 annualized dividend and a yield of 0.34%. Live Oak Bancshares’s dividend payout ratio (DPR) is 2.76%.

Insider Buying and Selling at Live Oak Bancshares

In other news, Director Diane Beth Glossman purchased 2,000 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were acquired at an average price of $38.25 per share, for a total transaction of $76,500.00. Following the purchase, the director now owns 64,981 shares in the company, valued at $2,485,523.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 25.70% of the company’s stock.

Institutional Trading of Live Oak Bancshares

A number of hedge funds have recently modified their holdings of LOB. Catalyst Capital Advisors LLC purchased a new stake in shares of Live Oak Bancshares in the fourth quarter worth about $29,000. USA Financial Portformulas Corp purchased a new stake in shares of Live Oak Bancshares in the fourth quarter worth about $34,000. Private Capital Group LLC acquired a new position in Live Oak Bancshares in the 1st quarter worth about $39,000. Glassman Wealth Services acquired a new position in Live Oak Bancshares in the 2nd quarter worth about $51,000. Finally, San Luis Wealth Advisors LLC acquired a new position in Live Oak Bancshares in the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Live Oak Bancshares Company Profile

(Get Rating)

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.

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