Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives $38.00 Average Price Target from Brokerages

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) have earned a consensus recommendation of “Moderate Buy” from the three brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $38.00.

Several research analysts have issued reports on LOB shares. TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. Finally, Truist Financial cut their price target on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 26th.

Insider Activity

In other news, insider Micah S. Davis sold 8,613 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $39.87, for a total value of $343,400.31. Following the transaction, the insider now owns 43,864 shares in the company, valued at $1,748,857.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Micah S. Davis sold 8,613 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of LOB. Riverview Trust Co purchased a new stake in shares of Live Oak Bancshares during the first quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC increased its position in shares of Live Oak Bancshares by 66.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock valued at $40,000 after acquiring an additional 551 shares during the last quarter. Independence Bank of Kentucky purchased a new stake in Live Oak Bancshares in the first quarter worth $44,000. Blue Trust Inc. increased its position in Live Oak Bancshares by 1,127.6% in the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock worth $97,000 after buying an additional 1,962 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its position in Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after buying an additional 775 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Stock Performance

Shares of NASDAQ:LOB opened at $35.63 on Friday. The business’s 50 day simple moving average is $38.50 and its two-hundred day simple moving average is $37.75. The firm has a market cap of $1.60 billion, a P/E ratio of 17.90 and a beta of 1.63. Live Oak Bancshares has a 52-week low of $19.53 and a 52-week high of $47.22.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were issued a $0.03 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

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.