Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) have earned an average rating of “Moderate Buy” from the three research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.00.

LOB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price objective (down from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. Truist Financial dropped their price objective on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, TheStreet lowered shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th.

Live Oak Bancshares Stock Up 1.5 %

Shares of NASDAQ:LOB opened at $35.32 on Friday. Live Oak Bancshares has a 12 month low of $19.53 and a 12 month high of $47.22. The company’s fifty day simple moving average is $38.56 and its 200 day simple moving average is $37.57. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 17.75 and a beta of 1.63.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.12 annualized dividend and a yield of 0.34%. Live Oak Bancshares’s payout ratio is currently 6.03%.

Insider Buying and Selling at Live Oak Bancshares

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. acquired a new position in Live Oak Bancshares in the 4th quarter valued at $1,285,000. Trust Co of the South acquired a new position in shares of Live Oak Bancshares in the fourth quarter valued at about $15,042,000. CenterBook Partners LP increased its position in Live Oak Bancshares by 41.3% during the third quarter. CenterBook Partners LP now owns 137,966 shares of the bank’s stock worth $3,994,000 after acquiring an additional 40,343 shares during the period. Jupiter Asset Management Ltd. bought a new position in Live Oak Bancshares during the third quarter worth about $994,000. Finally, Bank of New York Mellon Corp raised its stake in Live Oak Bancshares by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock worth $5,708,000 after purchasing an additional 2,721 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.