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

Live Oak Bancshares (NASDAQ:LOB)‘s stock had its “market perform” rating reissued by equities researchers at Keefe, Bruyette & Woods in a report issued on Friday,Benzinga reports. They presently have a $44.00 price objective on the bank’s stock, down from their previous price objective of $48.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 25.48% from the company’s previous close.

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

Live Oak Bancshares Stock Down 14.0 %

Live Oak Bancshares stock opened at $35.07 on Friday. The business has a 50-day simple moving average of $42.51 and a 200 day simple moving average of $43.18. Live Oak Bancshares has a 52 week low of $31.03 and a 52 week high of $50.57. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 24.18 and a beta of 1.69.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 7.10% and a return on equity of 6.88%. The company had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. During the same period in the prior year, the business earned $0.88 earnings per share. On average, research analysts anticipate that Live Oak Bancshares will post 2.52 earnings per share for the current year.

Insider Buying and Selling at Live Oak Bancshares

In related news, Director William Henderson Cameron acquired 1,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was purchased at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the transaction, the director now owns 202,217 shares of the company’s stock, valued at $8,040,147.92. This trade represents a 0.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the completion of the transaction, the chief accounting officer now owns 14,015 shares in the company, valued at $686,735. This represents a 47.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Live Oak Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after purchasing an additional 48,018 shares during the period. State Street Corp increased its stake in shares of Live Oak Bancshares by 13.4% during the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock valued at $52,553,000 after buying an additional 131,343 shares during the period. Geode Capital Management LLC raised its holdings in shares of Live Oak Bancshares by 1.8% during the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock valued at $36,658,000 after acquiring an additional 13,824 shares in the last quarter. abrdn plc purchased a new stake in Live Oak Bancshares in the third quarter worth $14,501,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Live Oak Bancshares by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,821 shares of the bank’s stock valued at $13,208,000 after acquiring an additional 8,116 shares in the last quarter. 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.