Live Oak Bancshares (NYSE:LOB) Stock Gets Price Target Trim from TD Cowen

Live Oak Bancshares (NYSE:LOB) had its price target dropped by equities research analysts at TD Cowen from $44.00 to $41.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen‘s target price points to a potential upside of 15.87% from the stock’s current price.

Several other research firms also recently weighed in on LOB. Keefe, Bruyette & Woods boosted their target price on Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Zacks Research cut Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research 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 on the stock in a research note on Wednesday, October 7th. Cantor Fitzgerald cut their price target on Live Oak Bancshares from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Finally, Weiss Ratings raised Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.75.

Live Oak Bancshares Price Performance

Shares of NYSE:LOB traded up $0.23 during trading on Monday, hitting $35.38. 34,817 shares of the company were exchanged, compared to its average volume of 267,639. Live Oak Bancshares has a 12-month low of $29.36 and a 12-month high of $44.53. The stock has a market capitalization of $1.64 billion, a P/E ratio of 12.59 and a beta of 1.94. The firm’s 50 day moving average price is $37.84 and its 200-day moving average price is $38.75.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.12). The firm had revenue of $175.65 million for the quarter, compared to analysts’ expectations of $167.50 million. Live Oak Bancshares had a return on equity of 11.56% and a net margin of 12.22%. As a group, equities research analysts anticipate that Live Oak Bancshares will post 2.92 EPS for the current year.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director William L. Williams III sold 8,400 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $43.08, for a total value of $361,872.00. Following the completion of the sale, the director owned 1,114,126 shares of the company’s stock, valued at approximately $47,996,548.08. This trade represents a 0.75% decrease 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David G. Lucht sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.36, for a total value of $88,720.00. Following the completion of the sale, the director directly owned 13,623 shares of the company’s stock, valued at approximately $604,316.28. This trade represents a 12.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 26,654 shares of company stock worth $1,114,424. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in LOB. BlackRock Inc. acquired a new position in Live Oak Bancshares during the second quarter worth about $143,588,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Live Oak Bancshares during the 2nd quarter valued at approximately $55,546,000. Dimensional Fund Advisors LP boosted its stake in shares of Live Oak Bancshares by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company’s stock worth $52,685,000 after acquiring an additional 54,750 shares in the last quarter. Southernsun Asset Management LLC boosted its stake in shares of Live Oak Bancshares by 0.4% during the 1st quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company’s stock worth $34,179,000 after acquiring an additional 4,431 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Live Oak Bancshares by 61.6% in the 2nd quarter. Algert Global LLC now owns 586,166 shares of the company’s stock worth $23,939,000 after acquiring an additional 223,487 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is the parent company of Live Oak Bank, a digital-focused financial institution headquartered in Wilmington, North Carolina. Founded in 2008, the company specializes in providing banking services to small and mid-sized businesses, with a particular emphasis on loans to owners of professional and industry-specific businesses.

Through Live Oak Bank, the company offers commercial lending, Small Business Administration (SBA) loans, business deposits, treasury management and other financial services.