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

Live Oak Bancshares (NASDAQ:LOBGet Free Report) had its price objective decreased by Truist Financial from $40.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s price target suggests a potential upside of 13.37% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target (down from $45.00) on shares of Live Oak Bancshares in a research note on Friday, April 26th. JPMorgan Chase & Co. dropped their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.25.

Check Out Our Latest Stock Analysis on LOB

Live Oak Bancshares Trading Up 0.2 %

NASDAQ LOB traded up $0.07 on Monday, hitting $33.52. 26,367 shares of the company’s stock were exchanged, compared to its average volume of 168,901. The stock has a 50-day moving average of $34.02 and a 200-day moving average of $37.88. Live Oak Bancshares has a 52 week low of $26.11 and a 52 week high of $47.22. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 16.89 and a beta of 1.62.

Live Oak Bancshares (NASDAQ:LOBGet Free Report) last released its earnings results on Wednesday, April 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.12). Live Oak Bancshares had a return on equity of 10.25% and a net margin of 10.62%. The business had revenue of $116.21 million for the quarter, compared to the consensus estimate of $118.89 million. As a group, analysts predict that Live Oak Bancshares will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Tonya Williams Bradford sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total transaction of $93,522.00. Following the completion of the sale, the director now owns 5,870 shares in the company, valued at approximately $211,143.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LOB. Dimensional Fund Advisors LP grew its position in shares of Live Oak Bancshares by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock valued at $60,415,000 after purchasing an additional 61,029 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Live Oak Bancshares during the 4th quarter valued at $1,285,000. Trust Co of the South purchased a new position in shares of Live Oak Bancshares during the 4th quarter valued at $15,042,000. Thoroughbred Financial Services LLC purchased a new position in shares of Live Oak Bancshares during the 4th quarter valued at $236,000. Finally, Trillium Asset Management LLC grew its position in shares of Live Oak Bancshares by 91.4% during the 4th quarter. Trillium Asset Management LLC now owns 110,168 shares of the bank’s stock valued at $5,013,000 after purchasing an additional 52,608 shares in the last quarter. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

About Live Oak Bancshares

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Live Oak Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Oak Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.