Live Oak Bancshares (NASDAQ:LOB) Price Target Lowered to $38.00 at Truist Financial

Live Oak Bancshares (NASDAQ:LOB) had its price objective lowered by Truist Financial from $47.00 to $38.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the stock. TheStreet downgraded shares of Live Oak Bancshares from a b- rating to a c+ rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $40.00 target price (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Live Oak Bancshares currently has an average rating of Hold and an average price target of $38.00.

Live Oak Bancshares Trading Down 3.2 %

Shares of LOB opened at $33.18 on Friday. Live Oak Bancshares has a twelve month low of $19.53 and a twelve month high of $47.22. The company has a market cap of $1.49 billion, a P/E ratio of 16.67 and a beta of 1.60. The company’s fifty day simple moving average is $39.11 and its 200-day simple moving average is $37.45.

Live Oak Bancshares Announces Dividend

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

Insider Buying and Selling

In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the 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 transaction, the insider now directly owns 43,864 shares in the company, valued at approximately $1,748,857.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Miltom Emmett Petty sold 10,000 shares of the firm’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 sale, the director now directly owns 121,941 shares in the company, valued at approximately $4,844,715.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the completion of the sale, the insider now owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by insiders.

Institutional Trading of Live Oak Bancshares

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

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.