Live Oak Bancshares (NYSE:LOB) Stock Gets Price Target Trim from TD Cowen

Live Oak Bancshares (NYSE:LOB) had its price objective lowered by TD Cowen from $44.00 to $41.00 in a research report sent to investors on Monday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald lowered their price objective on Live Oak Bancshares from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Zacks Research cut Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings raised Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Keefe, Bruyette & Woods lifted their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Piper Sandler lowered their price target on shares of Live Oak Bancshares from $46.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.75.

Live Oak Bancshares Stock Down 0.4%

Shares of LOB opened at $34.59 on Monday. Live Oak Bancshares has a 12-month low of $29.36 and a 12-month high of $44.53. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 12.31 and a beta of 1.94. The stock’s 50-day moving average price is $37.42 and its 200 day moving average price is $38.10.

Live Oak Bancshares (NYSE:LOB) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). Live Oak Bancshares had a net margin of 12.22% and a return on equity of 11.56%. The firm had revenue of $175.65 million during the quarter, compared to analyst estimates of $167.50 million. Equities research analysts expect that Live Oak Bancshares will post 2.92 EPS for the current year.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio is currently 4.27%.

Insider Buying and Selling

In related news, Director William L. Williams III sold 8,400 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.08, for a total transaction of $361,872.00. Following the completion of the sale, the director owned 1,114,126 shares in the company, valued at $47,996,548.08. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David G. Lucht sold 2,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.36, for a total transaction of $88,720.00. Following the transaction, the director directly owned 13,623 shares of the company’s stock, valued at $604,316.28. This represents a 12.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,554 shares of company stock valued at $1,034,286 in the last ninety days. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Live Oak Bancshares during the second quarter worth about $143,588,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Live Oak Bancshares in the second quarter valued at approximately $55,546,000. Dimensional Fund Advisors LP raised its stake in shares of Live Oak Bancshares by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company’s stock valued at $52,685,000 after acquiring an additional 54,750 shares during the last quarter. Southernsun Asset Management LLC raised its stake in shares of Live Oak Bancshares by 0.4% in the first quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company’s stock valued at $34,179,000 after acquiring an additional 4,431 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Live Oak Bancshares by 61.6% in the second quarter. Algert Global LLC now owns 586,166 shares of the company’s stock valued at $23,939,000 after acquiring an additional 223,487 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is the parent company of Live Oak Bank, a digital-focused financial institution headquartered in Wilmington, North Carolina. Founded in 2008, the company specializes in providing banking services to small and mid-sized businesses, with a particular emphasis on loans to owners of professional and industry-specific businesses.

Through Live Oak Bank, the company offers commercial lending, Small Business Administration (SBA) loans, business deposits, treasury management and other financial services.