Live Oak Bancshares (NASDAQ:LOB) PT Raised to $57.00

Live Oak Bancshares (NASDAQ:LOB) had its target price lifted by Truist Financial from $51.00 to $57.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s target price would suggest a potential upside of 16.59% from the stock’s current price.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Piper Sandler increased their price objective on Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.75.

Live Oak Bancshares Price Performance

LOB opened at $48.89 on Friday. The firm has a market cap of $2.20 billion, a PE ratio of 24.57 and a beta of 1.60. The stock has a 50-day moving average price of $42.53 and a 200-day moving average price of $38.38. Live Oak Bancshares has a 1 year low of $26.11 and a 1 year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.13. The business had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, sell-side analysts anticipate that Live Oak Bancshares will post 2.32 EPS for the current year.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at approximately $1,143,929. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 23.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors bought a new position in Live Oak Bancshares in the 1st quarter worth $18,628,000. Blue Trust Inc. increased its position in Live Oak Bancshares by 12,211.1% in the second quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock worth $8,870,000 after buying an additional 250,939 shares in the last quarter. Norges Bank bought a new position in shares of Live Oak Bancshares in the fourth quarter worth about $7,474,000. Homestead Advisers Corp lifted its position in shares of Live Oak Bancshares by 103.6% during the 4th quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock valued at $5,596,000 after buying an additional 62,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 61,029 shares during the period. Hedge funds and other institutional investors 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.