Live Oak Bancshares (NASDAQ:LOB) Price Target Cut to $38.00

Live Oak Bancshares (NASDAQ:LOB) had its price objective lowered by Truist Financial from $47.00 to $38.00 in a research report report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the bank’s stock.

LOB has been the subject of a number of other reports. TheStreet downgraded Live Oak Bancshares from a b- rating to a c+ rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday. 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 stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $38.00.

Live Oak Bancshares Stock Performance

LOB opened at $33.44 on Friday. The company’s 50-day simple moving average is $39.11 and its two-hundred day simple moving average is $37.51. Live Oak Bancshares has a 52-week low of $19.53 and a 52-week high of $47.22. The stock has a market capitalization of $1.50 billion, a P/E ratio of 16.80 and a beta of 1.60.

Live Oak Bancshares Announces Dividend

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

Insider Activity at Live Oak Bancshares

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

Institutional Trading of Live Oak Bancshares

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Live Oak Bancshares by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,509,008 shares of the bank’s stock valued at $114,160,000 after buying an additional 27,451 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Live Oak Bancshares by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock valued at $60,415,000 after purchasing an additional 61,029 shares during the period. Trust Co of the South purchased a new stake in Live Oak Bancshares during the fourth quarter valued at approximately $15,042,000. American Century Companies Inc. lifted its stake in shares of Live Oak Bancshares by 1.6% in the 3rd quarter. American Century Companies Inc. now owns 287,714 shares of the bank’s stock valued at $8,329,000 after purchasing an additional 4,470 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Live Oak Bancshares by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 259,231 shares of the bank’s stock worth $11,795,000 after purchasing an additional 2,979 shares during the period. Institutional investors 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.