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

Live Oak Bancshares (NASDAQ:LOB)‘s stock had its “market perform” rating restated by analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday, Benzinga reports. They presently have a $40.00 price objective on the bank’s stock, down from their prior price objective of $45.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 20.63% from the company’s current price.

LOB has been the topic of several other research reports. Truist Financial reaffirmed a “buy” rating and set a $47.00 target price on shares of Live Oak Bancshares in a research report on Monday, April 1st. TheStreet cut Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.25.

Live Oak Bancshares Stock Down 3.3 %

Live Oak Bancshares stock traded down $1.12 during mid-day trading on Friday, hitting $33.16. 74,819 shares of the company were exchanged, compared to its average volume of 166,029. Live Oak Bancshares has a 1-year low of $19.53 and a 1-year high of $47.22. The company has a market capitalization of $1.48 billion, a PE ratio of 16.66 and a beta of 1.60. The business has a fifty day moving average of $39.36 and a 200 day moving average of $37.39.

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

Insider Transactions at Live Oak Bancshares

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

Hedge Funds Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of LOB. Riverview Trust Co purchased a new stake in Live Oak Bancshares during the first quarter valued at about $28,000. Allspring Global Investments Holdings LLC grew its position in Live Oak Bancshares by 66.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock valued at $40,000 after acquiring an additional 551 shares during the period. Independence Bank of Kentucky purchased a new stake in Live Oak Bancshares during the first quarter valued at about $44,000. Blue Trust Inc. boosted its position in shares of Live Oak Bancshares by 1,127.6% in the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock worth $97,000 after buying an additional 1,962 shares during the period. Finally, Toth Financial Advisory Corp boosted its position in shares of Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after buying an additional 775 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

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.