Live Oak Bancshares (NASDAQ:LOB – Get Rating) had its price objective reduced by Piper Sandler from $40.00 to $35.00 in a research report report published on Wednesday, The Fly reports. They currently have a neutral rating on the bank's stock.
A number of other brokerages also recently issued reports on LOB. TheStreet downgraded shares of Live Oak Bancshares from a b- rating to a c rating in a research report on Thursday, June 23rd. Truist Financial dropped their target price on shares of Live Oak Bancshares from $55.00 to $45.00 and set a buy rating for the company in a report on Wednesday, September 14th. JPMorgan Chase & Co. downgraded shares of Live Oak Bancshares from an overweight rating to a neutral rating and dropped their target price for the stock from $58.00 to $41.00 in a report on Friday, July 1st. Finally, Raymond James downgraded shares of Live Oak Bancshares from an outperform rating to a market perform rating in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Live Oak Bancshares presently has a consensus rating of Hold and an average target price of $44.00.
Get Live Oak Bancshares alerts:Live Oak Bancshares Price Performance
Shares of LOB stock opened at $33.17 on Wednesday. Live Oak Bancshares has a 1 year low of $30.24 and a 1 year high of $99.89. The firm has a fifty day moving average price of $36.79 and a 200-day moving average price of $40.34. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 7.64 and a beta of 1.53.
Live Oak Bancshares (NASDAQ:LOB – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $1.65. Live Oak Bancshares had a net margin of 32.74% and a return on equity of 26.88%. The firm had revenue of $208.46 million during the quarter, compared to the consensus estimate of $97.90 million. Equities research analysts expect that Live Oak Bancshares will post 2.22 EPS for the current year.Live Oak Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Tuesday, September 6th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Friday, September 2nd. Live Oak Bancshares's payout ratio is currently 2.76%.
Insiders Place Their Bets
In related news, Director Diane Beth Glossman purchased 2,000 shares of the firm's stock in a transaction on Thursday, August 25th. The shares were acquired at an average price of $38.25 per share, for a total transaction of $76,500.00. Following the purchase, the director now directly owns 64,981 shares in the company, valued at $2,485,523.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 25.70% of the company's stock.
Institutional Trading of Live Oak Bancshares
Hedge funds have recently made changes to their positions in the business. Private Capital Group LLC purchased a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $39,000. Glassman Wealth Services purchased a new stake in shares of Live Oak Bancshares during the 2nd quarter valued at about $51,000. San Luis Wealth Advisors LLC purchased a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $52,000. Compagnie Lombard Odier SCmA bought a new position in Live Oak Bancshares during the 1st quarter valued at about $102,000. Finally, Ensign Peak Advisors Inc bought a new position in Live Oak Bancshares during the 4th quarter valued at about $103,000. 67.78% of the stock is currently owned by hedge funds and other institutional investors.
About Live Oak Bancshares
(Get Rating)
Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.
Featured Articles
- Get a free copy of the StockNews.com research report on Live Oak Bancshares (LOB)
- A Trio of Q3 Winners With Room to Run
- This Little Known Small Cap Is Up 139%: Is The Stock A Buy?
- Can HCA Healthcare Weather the Normalization?
- Can United Natural Foods Fight Both Inflation and the Fed?
- Mullen Automotive Is Ready To Get In Gear
Receive News & Ratings for Live Oak Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Oak Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.