JPMorgan Chase & Co. Cuts Live Oak Bancshares (NASDAQ:LOB) Price Target to $45.00

Live Oak Bancshares (NASDAQ:LOB) had its price target reduced by JPMorgan Chase & Co. from $46.00 to $45.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other research firms also recently weighed in on LOB. Keefe, Bruyette & Woods reissued a market perform rating and issued a $40.00 price target (down from $45.00) on shares of Live Oak Bancshares in a research note on Friday, April 26th. Truist Financial decreased their target price on shares of Live Oak Bancshares from $47.00 to $38.00 and set a buy rating on the stock in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $39.25.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $35.06 on Thursday. The stock’s 50 day simple moving average is $34.32 and its 200-day simple moving average is $38.25. The company has a market cap of $1.58 billion, a PE ratio of 17.62 and a beta of 1.62. Live Oak Bancshares has a 1-year low of $25.25 and a 1-year high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.12). The firm had revenue of $116.21 million during the quarter, compared to analyst estimates of $118.89 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.25%. On average, equities research analysts anticipate that Live Oak Bancshares will post 1.94 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.12 annualized dividend and a yield of 0.34%. Live Oak Bancshares’s payout ratio is 6.03%.

Insider Activity

In other news, Director Tonya Williams Bradford sold 2,600 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total value of $93,522.00. Following the transaction, the director now owns 5,870 shares of the company’s stock, valued at approximately $211,143.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 23.90% of the company’s stock.

Institutional Investors Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in LOB. Cetera Advisors LLC raised its position in Live Oak Bancshares by 9.2% in the first quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock valued at $245,000 after purchasing an additional 500 shares during the period. Motley Fool Asset Management LLC grew its stake in shares of Live Oak Bancshares by 16.4% in the first quarter. Motley Fool Asset Management LLC now owns 66,150 shares of the bank’s stock valued at $2,746,000 after buying an additional 9,317 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Live Oak Bancshares in the first quarter valued at $1,350,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Live Oak Bancshares in the 1st quarter valued at $129,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Live Oak Bancshares by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,069 shares of the bank’s stock worth $917,000 after acquiring an additional 1,728 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

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.