Piper Sandler Lowers Live Oak Bancshares (NASDAQ:LOB) Price Target to $44.00

Live Oak Bancshares (NASDAQ:LOB) had its price objective dropped by equities researchers at Piper Sandler from $50.00 to $44.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 10.97% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Truist Financial boosted their price target on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $47.00 price objective (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 assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares has a consensus rating of “Hold” and a consensus price target of $48.25.

Live Oak Bancshares Trading Down 5.2 %

NASDAQ LOB opened at $39.65 on Friday. Live Oak Bancshares has a 1-year low of $27.79 and a 1-year high of $50.57. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 18.11 and a beta of 1.60. The stock’s 50 day moving average is $45.11 and its two-hundred day moving average is $39.56.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The company had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same period in the prior year, the firm earned $0.88 EPS. On average, analysts predict that Live Oak Bancshares will post 2.31 earnings per share for the current year.

Insider Activity

In related news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the transaction, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.90% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Live Oak Bancshares by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,509,008 shares of the bank’s stock worth $114,160,000 after purchasing an additional 27,451 shares during the last quarter. Independence Bank of Kentucky bought a new stake in shares of Live Oak Bancshares in the 1st quarter valued at about $44,000. Toth Financial Advisory Corp raised its position in shares of Live Oak Bancshares by 10.7% in the 1st quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock valued at $138,000 after acquiring an additional 320 shares during the period. Chatham Capital Group Inc. boosted its stake in Live Oak Bancshares by 13.3% during the 1st quarter. Chatham Capital Group Inc. now owns 43,080 shares of the bank’s stock worth $1,788,000 after acquiring an additional 5,045 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Live Oak Bancshares during the first quarter valued at approximately $939,000. 63.95% of the stock is owned by institutional investors.

About Live Oak Bancshares

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.