Live Oak Bancshares (NYSE:LOB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Live Oak Bancshares (NYSE:LOB) had its price target hoisted by investment analysts at Keefe, Bruyette & Woods from $45.00 to $47.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 11.61% from the company’s previous close.

LOB has been the subject of several other reports. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Cantor Fitzgerald increased their price target on Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Piper Sandler raised their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, TD Cowen dropped their price objective on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

Live Oak Bancshares Trading Down 1.3%

Shares of LOB stock opened at $42.11 on Friday. The firm has a fifty day simple moving average of $39.50 and a 200-day simple moving average of $37.71. The company has a market capitalization of $1.95 billion, a PE ratio of 14.83 and a beta of 1.88. Live Oak Bancshares has a twelve month low of $29.36 and a twelve month high of $43.85.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. The firm had revenue of $156.15 million for the quarter. Equities research analysts predict that Live Oak Bancshares will post 3.05 EPS for the current year.

Insider Transactions at Live Oak Bancshares

In related news, insider Renato Derraik sold 75,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $37.83, for a total value of $2,837,250.00. Following the completion of the sale, the insider directly owned 4,243 shares of the company’s stock, valued at $160,512.69. The trade was a 94.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William L. Williams III sold 8,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $41.61, for a total value of $349,524.00. Following the sale, the director owned 1,122,526 shares in the company, valued at $46,708,306.86. The trade was a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,800 shares of company stock valued at $3,523,194 over the last quarter. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Live Oak Bancshares by 53.3% in the first quarter. Royal Bank of Canada now owns 75,125 shares of the company’s stock worth $2,484,000 after purchasing an additional 26,116 shares during the period. Empowered Funds LLC raised its holdings in shares of Live Oak Bancshares by 3.5% during the first quarter. Empowered Funds LLC now owns 89,188 shares of the company’s stock worth $2,949,000 after purchasing an additional 3,038 shares during the period. Quantinno Capital Management LP lifted its position in shares of Live Oak Bancshares by 53.2% in the 1st quarter. Quantinno Capital Management LP now owns 29,691 shares of the company’s stock worth $982,000 after buying an additional 10,305 shares during the last quarter. Sei Investments Co. lifted its position in shares of Live Oak Bancshares by 4.5% in the 1st quarter. Sei Investments Co. now owns 41,124 shares of the company’s stock worth $1,360,000 after buying an additional 1,770 shares during the last quarter. Finally, Southernsun Asset Management LLC lifted its position in shares of Live Oak Bancshares by 0.4% in the 1st quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company’s stock worth $34,179,000 after buying an additional 4,431 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.

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.