Live Oak Bancshares’ (LOB) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a research report report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a $44.00 price target on the bank’s stock, down from their prior price target of $48.00.

LOB has been the subject of several other reports. Truist Financial reduced their price target on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Piper Sandler dropped their target price on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares has an average rating of “Moderate Buy” and a consensus target price of $44.75.

Live Oak Bancshares Trading Up 0.2 %

LOB opened at $35.13 on Friday. Live Oak Bancshares has a 1-year low of $31.03 and a 1-year high of $50.57. The company’s fifty day moving average price is $42.25 and its two-hundred day moving average price is $43.19. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 28.11 and a beta of 1.69.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The business had revenue of $241.87 million for the quarter, compared to the consensus estimate of $126.63 million. Live Oak Bancshares had a return on equity of 6.88% and a net margin of 7.10%. During the same quarter last year, the business posted $0.88 earnings per share. As a group, equities analysts forecast that Live Oak Bancshares will post 2.52 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, December 2nd. Live Oak Bancshares’s payout ratio is 8.28%.

Insider Buying and Selling

In other news, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. This represents a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Henderson Cameron purchased 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $39.76 per share, with a total value of $39,760.00. Following the transaction, the director now owns 202,217 shares in the company, valued at $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Institutional investors have recently made changes to their positions in the company. 49 Wealth Management LLC lifted its holdings in Live Oak Bancshares by 2.1% in the third quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after acquiring an additional 212 shares during the period. Quarry LP grew its position in Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 354 shares during the period. Central Pacific Bank Trust Division increased its holdings in Live Oak Bancshares by 3.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank’s stock valued at $411,000 after buying an additional 356 shares during the last quarter. First Hawaiian Bank raised its position in Live Oak Bancshares by 3.6% in the fourth quarter. First Hawaiian Bank now owns 16,002 shares of the bank’s stock worth $633,000 after acquiring an additional 551 shares during the period. Finally, FMR LLC boosted its stake in shares of Live Oak Bancshares by 15.0% during the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after acquiring an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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.