Live Oak Bancshares’ (LOB) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

Live Oak Bancshares (NASDAQ:LOB)‘s stock had its “market perform” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $40.00 target price on the bank’s stock, down from their previous target price of $45.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 20.55% from the stock’s previous close.

Several other equities analysts have also recently issued reports on LOB. TheStreet cut shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Truist Financial reaffirmed a “buy” rating and set a $47.00 price target on shares of Live Oak Bancshares in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and an average target price of $38.00.

Live Oak Bancshares Stock Performance

Shares of LOB opened at $33.18 on Friday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 16.67 and a beta of 1.60. The company’s fifty day moving average is $39.11 and its two-hundred day moving average is $37.39. Live Oak Bancshares has a 1 year low of $19.53 and a 1 year high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.20). The firm had revenue of $119.68 million during the quarter, compared to analyst estimates of $119.36 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.45%. Sell-side analysts predict that Live Oak Bancshares will post 2.22 EPS for the current year.

Insider Buying and Selling

In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the transaction, the director now directly owns 121,941 shares in the company, valued at approximately $4,844,715.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the transaction, the director now directly owns 121,941 shares in the company, valued at approximately $4,844,715.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $39.87, for a total transaction of $343,400.31. Following the completion of the transaction, the insider now owns 43,864 shares in the company, 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 Inflows and Outflows

Large investors have recently modified their holdings of the stock. Riverview Trust Co purchased a new position in shares of Live Oak Bancshares during the 1st quarter worth about $28,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Live Oak Bancshares by 66.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after acquiring an additional 551 shares during the period. Independence Bank of Kentucky acquired a new stake in Live Oak Bancshares during the 1st quarter worth approximately $44,000. Blue Trust Inc. increased its position in Live Oak Bancshares by 1,127.6% during the 4th quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock worth $97,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its position in Live Oak Bancshares by 34.8% during the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after purchasing an additional 775 shares in the last quarter. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

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.