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

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOBGet Rating) have been given an average rating of “Hold” by the six ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $34.33.

Several equities research analysts have recently issued reports on LOB shares. JPMorgan Chase & Co. cut shares of Live Oak Bancshares from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $34.00 to $30.00 in a research report on Tuesday, December 13th. Truist Financial reduced their price objective on shares of Live Oak Bancshares from $40.00 to $38.00 in a research report on Friday, December 9th. StockNews.com lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 22nd. Finally, Piper Sandler cut their target price on shares of Live Oak Bancshares from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, September 28th.

Live Oak Bancshares Trading Up 1.0 %

NASDAQ LOB opened at $32.13 on Friday. Live Oak Bancshares has a 12 month low of $27.50 and a 12 month high of $83.89. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 7.08 and a beta of 1.50. The company’s 50 day moving average is $31.76 and its two-hundred day moving average is $33.70.

Live Oak Bancshares (NASDAQ:LOBGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.51. The firm had revenue of $141.61 million for the quarter, compared to analysts’ expectations of $105.63 million. Live Oak Bancshares had a net margin of 31.34% and a return on equity of 27.07%. Sell-side analysts forecast that Live Oak Bancshares will post 4.24 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Investors of record on Tuesday, November 29th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Monday, November 28th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 2.64%.

Insiders Place Their Bets

In other news, Director William Henderson Cameron acquired 1,000 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was bought at an average cost of $30.45 per share, with a total value of $30,450.00. Following the completion of the purchase, the director now directly owns 167,217 shares of the company’s stock, valued at $5,091,757.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Parsons Capital Management Inc. RI boosted its stake in shares of Live Oak Bancshares by 10.2% during the third quarter. Parsons Capital Management Inc. RI now owns 12,450 shares of the bank’s stock valued at $381,000 after purchasing an additional 1,150 shares during the period. Credit Suisse AG boosted its stake in shares of Live Oak Bancshares by 10.6% during the second quarter. Credit Suisse AG now owns 184,908 shares of the bank’s stock valued at $6,267,000 after purchasing an additional 17,673 shares during the period. Advisory Services Network LLC boosted its stake in shares of Live Oak Bancshares by 6.4% during the first quarter. Advisory Services Network LLC now owns 55,729 shares of the bank’s stock valued at $2,836,000 after purchasing an additional 3,368 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Live Oak Bancshares by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 96,806 shares of the bank’s stock valued at $3,280,000 after purchasing an additional 659 shares during the period. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Live Oak Bancshares by 524,624.0% in the second quarter. Salem Investment Counselors Inc. now owns 262,362 shares of the bank’s stock valued at $8,891,000 after acquiring an additional 262,312 shares in the last quarter. 63.28% of the stock is owned by hedge funds and other institutional investors.

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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