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

Live Oak Bancshares (NYSE:LOB) had its price objective reduced by Cantor Fitzgerald from $45.00 to $41.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 18.36% from the company’s current price.

LOB has been the topic of several other research reports. Weiss Ratings downgraded Live Oak Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. 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 cut their price objective 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 target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, TD Cowen reduced their target price on shares of Live Oak Bancshares from $49.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $42.50.

Live Oak Bancshares Stock Performance

Shares of Live Oak Bancshares stock opened at $34.64 on Wednesday. Live Oak Bancshares has a one year low of $29.36 and a one year high of $44.53. The stock’s fifty day moving average is $39.09 and its 200 day moving average is $38.64. The stock has a market cap of $1.60 billion, a P/E ratio of 12.20 and a beta of 1.94.

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

Insider Activity

In other Live Oak Bancshares news, Director Tonya Bradford sold 1,600 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $39.89, for a total value of $63,824.00. Following the completion of the sale, the director owned 8,043 shares in the company, valued at approximately $320,835.27. This represents a 16.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Moroz sold 6,100 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total value of $256,688.00. Following the sale, the insider directly owned 12,110 shares in the company, valued at approximately $509,588.80. This represents a 33.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,654 shares of company stock worth $1,240,814 in the last quarter. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in Live Oak Bancshares in the 2nd quarter worth approximately $9,394,000. Legal & General Group Plc bought a new position in Live Oak Bancshares in the 2nd quarter worth approximately $1,480,000. Bank of New York Mellon Corp bought a new position in Live Oak Bancshares in the 2nd quarter worth approximately $4,506,000. PDT Partners LLC bought a new position in Live Oak Bancshares in the 2nd quarter worth approximately $1,267,000. Finally, Deutsche Bank AG purchased a new stake in Live Oak Bancshares during the 2nd quarter valued at approximately $3,899,000. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Company Profile

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.