Live Oak Bancshares (NYSE:LOB) Stock Price Target Lowered at TD Cowen

Live Oak Bancshares (NYSE:LOB) had its target price trimmed by TD Cowen from $49.00 to $44.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods increased their target price on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Cantor Fitzgerald boosted their price target on Live Oak Bancshares from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Weiss Ratings lowered Live Oak Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Finally, Zacks Research downgraded Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.25.

Live Oak Bancshares Stock Performance

NYSE LOB opened at $36.60 on Monday. The stock has a market cap of $1.69 billion, a PE ratio of 12.89 and a beta of 1.94. The firm has a 50-day moving average of $40.07 and a 200-day moving average of $38.53. Live Oak Bancshares has a 52-week low of $29.36 and a 52-week high of $44.53.

Live Oak Bancshares (NYSE:LOB) last released its quarterly 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. The firm had revenue of $156.15 million for the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. As a group, analysts predict that Live Oak Bancshares will post 3.07 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, September 1st. Live Oak Bancshares’s payout ratio is 4.23%.

Insider Transactions at Live Oak Bancshares

In related news, Director William L. Williams III sold 8,400 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $43.08, for a total transaction of $361,872.00. Following the sale, the director directly owned 1,114,126 shares in the company, valued at $47,996,548.08. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David G. Lucht sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $42.13, for a total transaction of $126,390.00. Following the sale, the director directly owned 15,623 shares in the company, valued at $658,196.99. The trade was a 16.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 29,654 shares of company stock worth $1,240,814. 22.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Live Oak Bancshares

Several large investors have recently modified their holdings of the business. Versant Capital Management Inc grew its position in shares of Live Oak Bancshares by 98.9% in the 3rd quarter. Versant Capital Management Inc now owns 2,080 shares of the company’s stock valued at $75,000 after buying an additional 1,034 shares during the last quarter. Engineers Gate Manager LP raised its position in shares of Live Oak Bancshares by 26.4% during the second quarter. Engineers Gate Manager LP now owns 15,215 shares of the company’s stock worth $621,000 after acquiring an additional 3,180 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Live Oak Bancshares by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 16,857 shares of the company’s stock worth $688,000 after acquiring an additional 499 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Live Oak Bancshares during the second quarter worth about $326,000. Finally, Empowered Funds LLC acquired a new position in shares of Live Oak Bancshares in the second quarter worth approximately $3,643,000. 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.