Live Oak Bancshares (NASDAQ:LOB) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a report published on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has a $40.00 price target on the bank’s stock, down from their prior price target of $45.00.

Several other research firms have also issued reports on LOB. TheStreet lowered shares of Live Oak Bancshares from a b- rating to a c+ rating in a research note on Monday, January 29th. Truist Financial reissued a buy rating and set a $47.00 target price on shares of Live Oak Bancshares in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $38.00.

Live Oak Bancshares Stock Performance

Shares of LOB opened at $33.18 on Friday. The business’s 50-day moving average is $39.11 and its two-hundred day moving average is $37.39. The company has a market capitalization of $1.49 billion, a P/E ratio of 16.67 and a beta of 1.60. Live Oak Bancshares has a fifty-two week low of $19.53 and a fifty-two week high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, January 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.20). Live Oak Bancshares had a return on equity of 10.45% and a net margin of 10.62%. The firm had revenue of $119.68 million for the quarter, compared to analysts’ expectations of $119.36 million. Analysts forecast that Live Oak Bancshares will post 2.22 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

Insider Activity at Live Oak Bancshares

In related news, Director Miltom Emmett Petty sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the transaction, the director now directly owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the sale, the insider now owns 43,864 shares in the company, valued at approximately $1,748,857.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Live Oak Bancshares

A number of hedge funds have recently bought and sold shares of LOB. Trust Co of the South acquired a new stake in Live Oak Bancshares in the 4th quarter valued at about $15,042,000. Norges Bank acquired a new stake in Live Oak Bancshares in the 4th quarter valued at about $7,474,000. Mendon Capital Advisors Corp acquired a new stake in Live Oak Bancshares in the 4th quarter valued at about $4,550,000. Homestead Advisers Corp increased its holdings in shares of Live Oak Bancshares by 103.6% during the 4th quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock worth $5,596,000 after buying an additional 62,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Live Oak Bancshares by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock worth $60,415,000 after buying an additional 61,029 shares during the last quarter. Institutional investors and hedge funds 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.