Live Oak Bancshares (NYSE:LOB) Stock Gets Price Target Cut from Cantor Fitzgerald

Live Oak Bancshares (NYSE:LOB) had its target price cut by Cantor Fitzgerald from $45.00 to $41.00 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the stock. TD Cowen cut their target price on shares of Live Oak Bancshares from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Zacks Research downgraded shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Piper Sandler dropped their price target on Live Oak Bancshares from $46.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Keefe, Bruyette & Woods increased their price target on Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings downgraded Live Oak Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and an average target price of $42.50.

Live Oak Bancshares Trading Down 0.9%

LOB opened at $34.85 on Wednesday. The company’s 50 day moving average is $38.60 and its 200-day moving average is $38.65. Live Oak Bancshares has a 1-year low of $29.36 and a 1-year high of $44.53. The company has a market cap of $1.61 billion, a P/E ratio of 12.27 and a beta of 1.94.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. The company had revenue of $156.15 million for the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. On average, equities analysts forecast that Live Oak Bancshares will post 2.96 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio is currently 4.23%.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director Tonya Bradford sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $39.89, for a total transaction of $63,824.00. Following the sale, the director directly owned 8,043 shares of the company’s stock, valued at $320,835.27. The trade was a 16.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David G. Lucht sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $42.13, for a total transaction of $126,390.00. Following the sale, the director directly owned 15,623 shares in the company, valued at $658,196.99. The trade was a 16.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,654 shares of company stock worth $1,240,814 in the last 90 days. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of Live Oak Bancshares by 98.9% in the third quarter. Versant Capital Management Inc now owns 2,080 shares of the company’s stock worth $75,000 after purchasing an additional 1,034 shares during the last quarter. Engineers Gate Manager LP raised its position in Live Oak Bancshares by 26.4% during the 2nd quarter. Engineers Gate Manager LP now owns 15,215 shares of the company’s stock worth $621,000 after purchasing an additional 3,180 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Live Oak Bancshares by 3.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 16,857 shares of the company’s stock worth $688,000 after buying an additional 499 shares during the period. Hsbc Holdings PLC acquired a new position in Live Oak Bancshares during the 2nd quarter worth about $326,000. Finally, Empowered Funds LLC acquired a new position in Live Oak Bancshares during the 2nd quarter worth about $3,643,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a financial holding company headquartered in Wilmington, North Carolina. Through its principal subsidiary, Live Oak Bank, the company provides banking and financial services to small and middle-market businesses, professionals, entrepreneurs and individuals.

Live Oak Bank is known for its specialized lending model, including Small Business Administration (SBA) loans and financing for businesses in industries such as veterinary medicine, healthcare, agriculture, investment advisory and government contracting.