Keefe, Bruyette & Woods Issues Pessimistic Forecast for Live Oak Bancshares (NYSE:LOB) Stock Price

Live Oak Bancshares (NYSE:LOB) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $44.00 to $42.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 12.46% from the stock’s current price.

LOB has been the topic of a number of other reports. Zacks Research raised Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. TD Cowen raised Live Oak Bancshares to a “strong-buy” rating in a report on Monday, April 13th. Finally, Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.00.

Live Oak Bancshares Price Performance

Shares of NYSE LOB opened at $37.35 on Friday. The stock’s fifty day moving average price is $35.43 and its two-hundred day moving average price is $35.24. Live Oak Bancshares has a one year low of $25.53 and a one year high of $42.89. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 14.31 and a beta of 1.90.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Live Oak Bancshares had a return on equity of 11.36% and a net margin of 11.79%.The firm had revenue of $145.47 million for the quarter, compared to analyst estimates of $146.02 million. On average, equities analysts anticipate that Live Oak Bancshares will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Courtney Spencer sold 9,700 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $39.01, for a total transaction of $378,397.00. Following the completion of the sale, the insider directly owned 25,160 shares in the company, valued at approximately $981,491.60. This represents a 27.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ewa Maria Stasiowska bought 2,595 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were bought at an average price of $38.53 per share, with a total value of $99,985.35. Following the completion of the transaction, the insider owned 2,595 shares in the company, valued at approximately $99,985.35. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 17,412 shares of company stock valued at $660,862. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LOB. Jones Financial Companies Lllp raised its stake in Live Oak Bancshares by 60.1% during the third quarter. Jones Financial Companies Lllp now owns 1,364 shares of the company’s stock worth $49,000 after acquiring an additional 512 shares in the last quarter. Larson Financial Group LLC raised its stake in Live Oak Bancshares by 157.4% during the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock worth $51,000 after acquiring an additional 905 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in Live Oak Bancshares during the fourth quarter worth about $55,000. State of Alaska Department of Revenue acquired a new position in Live Oak Bancshares during the third quarter worth about $63,000. Finally, Blue Trust Inc. raised its stake in Live Oak Bancshares by 671.6% during the first quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock worth $70,000 after acquiring an additional 1,847 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 is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.