Live Oak Bancshares, Inc. (NASDAQ:LOB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Live Oak Bancshares, Inc. (NASDAQ:LOB) has been given a consensus rating of “Moderate Buy” by the four analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $45.50.

LOB has been the subject of a number of recent research reports. Piper Sandler lowered their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Truist Financial lowered their price target on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 12,588 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the sale, the chief accounting officer now owns 14,015 shares in the company, valued at approximately $686,735. The trade was a 47.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now directly owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. Insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LOB. Vanguard Group Inc. increased its holdings in shares of Live Oak Bancshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock valued at $105,273,000 after acquiring an additional 27,086 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Live Oak Bancshares by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock worth $54,701,000 after purchasing an additional 15,496 shares during the period. Dimensional Fund Advisors LP boosted its stake in Live Oak Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after buying an additional 48,018 shares in the last quarter. State Street Corp grew its holdings in shares of Live Oak Bancshares by 13.4% in the 3rd quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock worth $52,553,000 after purchasing an additional 131,343 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Live Oak Bancshares by 1.8% during the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock worth $36,658,000 after buying an additional 13,824 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Live Oak Bancshares Stock Up 1.9 %

NASDAQ LOB opened at $46.42 on Friday. Live Oak Bancshares has a 52-week low of $31.03 and a 52-week high of $50.57. The firm has a 50-day moving average price of $46.20 and a 200 day moving average price of $41.62. The stock has a market capitalization of $2.10 billion, a P/E ratio of 29.19 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The business had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts expect that Live Oak Bancshares will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio is presently 7.55%.

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.