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 stock analysts at Keefe, Bruyette & Woods in a report released on Friday, Benzinga reports. They currently have a $40.00 target price on the bank’s stock, down from their previous target price of $45.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 20.63% from the company’s current price.

A number of other equities analysts have also recently commented on LOB. TheStreet cut shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Truist Financial restated a “buy” rating and issued a $47.00 price objective on shares of Live Oak Bancshares in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.25.

Live Oak Bancshares Stock Down 3.3 %

LOB traded down $1.12 on Friday, hitting $33.16. The company’s stock had a trading volume of 74,819 shares, compared to its average volume of 166,029. The company’s 50 day simple moving average is $39.36 and its 200-day simple moving average is $37.39. The firm has a market cap of $1.48 billion, a P/E ratio of 16.66 and a beta of 1.60. Live Oak Bancshares has a 12 month low of $19.53 and a 12 month high of $47.22.

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

Insider Buying and Selling

In related news, Director Miltom Emmett Petty sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the sale, the director now owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 121,941 shares in the company, valued at $4,844,715.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the completion of the transaction, the insider now owns 43,864 shares in the company, valued at approximately $1,748,857.68. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LOB. Riverview Trust Co purchased a new position in shares of Live Oak Bancshares during the first quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC increased its holdings 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 buying an additional 551 shares during the last quarter. Independence Bank of Kentucky purchased a new stake in Live Oak Bancshares during the first quarter valued at approximately $44,000. Blue Trust Inc. increased its holdings in Live Oak Bancshares by 1,127.6% during the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after buying an additional 1,962 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in Live Oak Bancshares by 34.8% during the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after buying an additional 775 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

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.