TD Cowen Cuts Live Oak Bancshares (NASDAQ:LOB) Price Target to $51.00

Live Oak Bancshares (NASDAQ:LOB) had its price objective trimmed by TD Cowen from $53.00 to $51.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Separately, Piper Sandler decreased their price objective on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.20.

Live Oak Bancshares Stock Down 3.4%

Live Oak Bancshares stock opened at $40.29 on Tuesday. The business has a 50 day moving average price of $36.33 and a two-hundred day moving average price of $34.90. Live Oak Bancshares has a 12 month low of $22.68 and a 12 month high of $42.89. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 27.79 and a beta of 2.00.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 2nd. Live Oak Bancshares’s payout ratio is currently 5.41%.

Insider Buying and Selling

In other news, insider Ewa Maria Stasiowska bought 2,595 shares of the business’s stock in a transaction on Monday, January 26th. The shares were purchased at an average price of $38.53 per share, for a total transaction of $99,985.35. Following the purchase, the insider owned 2,595 shares of the company’s stock, valued at approximately $99,985.35. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Courtney Spencer sold 9,700 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $39.01, for a total transaction of $378,397.00. Following the sale, the insider directly owned 25,160 shares in the company, valued at $981,491.60. This trade represents a 27.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC increased its position in Live Oak Bancshares by 61.8% during the 2nd quarter. Walleye Capital LLC now owns 90,117 shares of the bank’s stock worth $2,685,000 after purchasing an additional 34,424 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Live Oak Bancshares by 24.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 181,269 shares of the bank’s stock valued at $5,402,000 after acquiring an additional 36,152 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in Live Oak Bancshares by 16.3% in the 2nd quarter. Motley Fool Asset Management LLC now owns 101,910 shares of the bank’s stock worth $3,037,000 after purchasing an additional 14,270 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Live Oak Bancshares by 53.6% during the second quarter. Squarepoint Ops LLC now owns 153,078 shares of the bank’s stock valued at $4,562,000 after purchasing an additional 53,427 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Live Oak Bancshares by 7,761.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 103,063 shares of the bank’s stock valued at $3,577,000 after buying an additional 101,752 shares during the last quarter. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.