Live Oak Bancshares (NASDAQ:LOB) Stock Price Down 4.1% Following Analyst Downgrade

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s stock price were down 4.1% on Friday after Truist Financial lowered their price target on the stock from $47.00 to $38.00. Truist Financial currently has a buy rating on the stock. Live Oak Bancshares traded as low as $32.88 and last traded at $32.88. Approximately 172,381 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 167,386 shares. The stock had previously closed at $34.28.

A number of other equities analysts also recently issued reports on the stock. TheStreet downgraded shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price objective (down from $45.00) on shares of Live Oak Bancshares in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.00.

Insider Transactions at Live Oak Bancshares

In other news, Director Miltom Emmett Petty sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now owns 121,941 shares in the company, valued at approximately $4,844,715.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $39.73, for a total value of $397,300.00. Following the completion of the sale, the director now owns 121,941 shares in the company, valued at $4,844,715.93. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Micah S. Davis sold 8,613 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $28,000. Allspring Global Investments Holdings LLC grew its position in Live Oak Bancshares by 66.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after buying an additional 551 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in shares of Live Oak Bancshares during the first quarter worth $44,000. Blue Trust Inc. lifted its stake 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 valued at $97,000 after buying an additional 1,962 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its position in shares of Live Oak Bancshares by 34.8% in the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $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 Stock Down 3.2 %

The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 16.67 and a beta of 1.60. The company has a 50-day moving average price of $39.24 and a 200 day moving average price of $37.36.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.20). Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.45%. The company had revenue of $119.68 million for the quarter, compared to analysts’ expectations of $119.36 million. Equities analysts forecast that Live Oak Bancshares, Inc. will post 2.22 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were issued a $0.03 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.12 dividend on an annualized basis and a yield of 0.36%. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

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.