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

Live Oak Bancshares (NASDAQ:LOB) had its target price reduced by Piper Sandler from $50.00 to $44.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other research firms have also issued reports on LOB. JPMorgan Chase & Co. reduced 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Truist Financial lifted their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.25.

Live Oak Bancshares Stock Down 5.2 %

Shares of LOB stock opened at $39.65 on Friday. The stock has a market cap of $1.79 billion, a P/E ratio of 18.11 and a beta of 1.60. Live Oak Bancshares has a fifty-two week low of $27.79 and a fifty-two week high of $50.57. The business has a fifty day simple moving average of $45.11 and a 200-day simple moving average of $39.57.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share 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 business had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same quarter last year, the business posted $0.88 earnings per share. On average, sell-side analysts anticipate that Live Oak Bancshares will post 2.31 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is currently 5.48%.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares 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 completion of the sale, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 23.90% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

Hedge funds have recently made changes to their positions in the stock. Independence Bank of Kentucky purchased a new position in shares of Live Oak Bancshares in the 1st quarter worth $44,000. Quest Partners LLC raised its holdings in shares of Live Oak Bancshares by 68.4% in the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after purchasing an additional 823 shares during the period. nVerses Capital LLC lifted its stake in shares of Live Oak Bancshares by 87.5% in the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Live Oak Bancshares by 1,885.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after purchasing an additional 2,206 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Live Oak Bancshares during the 1st quarter worth approximately $129,000. Institutional investors and hedge funds 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.