Truist Financial Boosts Live Oak Bancshares (NASDAQ:LOB) Price Target to $57.00

Live Oak Bancshares (NASDAQ:LOB) had its target price boosted by Truist Financial from $51.00 to $57.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other equities research analysts also recently commented on LOB. Keefe, Bruyette & Woods restated a market perform rating and issued a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their price target on shares of Live Oak Bancshares from $46.00 to $45.00 and set an overweight rating on the stock in a research report on Thursday, June 27th. Finally, Piper Sandler upped their price objective on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the stock a neutral rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $48.75.

Live Oak Bancshares Trading Down 0.6 %

NASDAQ LOB opened at $48.62 on Friday. Live Oak Bancshares has a 1-year low of $26.11 and a 1-year high of $50.57. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 24.43 and a beta of 1.60. The stock’s 50 day moving average is $42.72 and its two-hundred day moving average is $38.42.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The business had revenue of $232.61 million during the quarter, compared to the consensus estimate of $123.08 million. During the same quarter last year, the company earned $0.39 EPS. On average, analysts predict that Live Oak Bancshares will post 2.32 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.03 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. Live Oak Bancshares’s dividend payout ratio is 6.03%.

Insider Buying and Selling

In other news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co bought a new position in Live Oak Bancshares in the first quarter valued at about $28,000. Independence Bank of Kentucky acquired a new position in Live Oak Bancshares during the 1st quarter valued at about $44,000. Quest Partners LLC boosted its stake 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 valued at $71,000 after purchasing an additional 823 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position 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 buying an additional 2,206 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Live Oak Bancshares during the 1st quarter worth approximately $129,000. Institutional investors 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.