Live Oak Bancshares, Inc. (NYSE:LOB) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst sentiment is neutral: Live Oak Bancshares has an average “Hold” rating from six analysts—four holds and two buys—with an average 12-month price target of $45.50.
• Recent performance exceeded expectations: The company reported quarterly EPS of $0.74, topping the $0.64 consensus estimate, on revenue of $156.15 million.
• Ownership and trading activity shifted: Institutional investors own 63.95% of the stock, while insiders sold 29,654 shares worth approximately $1.24 million over the past 90 days. Shares recently opened at $36.19, below the analyst consensus target.

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) has earned an average recommendation of "Hold" from the six research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $45.50.

A number of equities research analysts have recently weighed in on the company. Weiss Ratings cut Live Oak Bancshares from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 9th. TD Cowen increased their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Cantor Fitzgerald increased their price target on Live Oak Bancshares from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. Zacks Research lowered Live Oak Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Keefe, Bruyette & Woods raised their price target on Live Oak Bancshares from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, July 24th.

Insider Activity at Live Oak Bancshares

In other news, Director Tonya Bradford sold 1,600 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $39.89, for a total value of $63,824.00. Following the completion of the transaction, the director directly owned 8,043 shares in the company, valued at $320,835.27. This trade represents a 16.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Moroz sold 6,100 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total transaction of $256,688.00. Following the transaction, the insider owned 12,110 shares in the company, valued at $509,588.80. This represents a 33.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,654 shares of company stock worth $1,240,814 in the last 90 days. Corporate insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On Live Oak Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of Live Oak Bancshares in the 2nd quarter worth $9,394,000. Bank of New York Mellon Corp bought a new position in Live Oak Bancshares during the second quarter valued at about $4,506,000. PDT Partners LLC bought a new position in Live Oak Bancshares during the second quarter valued at about $1,267,000. Deutsche Bank AG acquired a new position in Live Oak Bancshares during the second quarter worth about $3,899,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Live Oak Bancshares during the second quarter worth about $7,322,000. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Price Performance

Shares of NYSE LOB opened at $36.19 on Thursday. Live Oak Bancshares has a 1-year low of $29.36 and a 1-year high of $44.53. The business's fifty day moving average price is $40.41 and its two-hundred day moving average price is $38.44. The firm has a market capitalization of $1.67 billion, a PE ratio of 12.74 and a beta of 1.86.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. The firm had revenue of $156.15 million during the quarter. Equities research analysts expect that Live Oak Bancshares will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Live Oak Bancshares's dividend payout ratio (DPR) is presently 4.23%.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a financial holding company headquartered in Wilmington, North Carolina. Its principal subsidiary, Live Oak Bank, is a digital, branchless bank focused on serving small and midsize businesses, business owners and professionals across the United States.

Live Oak Bank provides commercial loans, including Small Business Administration (SBA) lending, along with business checking and savings accounts, certificates of deposit, treasury management and other banking services.

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