Live Oak Bancshares’ (LOB) “Market Perform” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $44.00 price target on the bank’s stock, down from their prior price target of $48.00.

LOB has been the subject of a number of other reports. Piper Sandler reduced their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Truist Financial decreased their price objective 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. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Live Oak Bancshares Stock Performance

Shares of Live Oak Bancshares stock opened at $35.13 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 28.11 and a beta of 1.69. Live Oak Bancshares has a 1 year low of $31.03 and a 1 year high of $50.57. The firm’s 50-day simple moving average is $42.25 and its 200-day simple moving average is $43.19.

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 analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 6.88% and a net margin of 7.10%. The business had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same period in the prior year, the firm earned $0.88 EPS. On average, equities analysts predict that Live Oak Bancshares will post 2.52 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.34%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 8.28%.

Insider Transactions at Live Oak Bancshares

In related news, Director William Henderson Cameron acquired 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the transaction, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock valued at $36,658,000 after purchasing an additional 13,824 shares during the period. Barclays PLC boosted its holdings in shares of Live Oak Bancshares by 130.5% during the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank’s stock valued at $3,485,000 after acquiring an additional 41,662 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Live Oak Bancshares by 195.3% during the third quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank’s stock worth $3,888,000 after purchasing an additional 54,286 shares during the last quarter. HighTower Advisors LLC acquired a new position in Live Oak Bancshares in the 3rd quarter valued at approximately $364,000. Finally, Stifel Financial Corp lifted its holdings in shares of Live Oak Bancshares by 59.5% during the third quarter. Stifel Financial Corp now owns 19,720 shares of the bank’s stock worth $934,000 after purchasing an additional 7,357 shares during the period. Institutional investors own 63.95% of the company’s stock.

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.