Live Oak Bancshares, Inc. (NASDAQ:LOB) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Live Oak Bancshares, Inc. (NASDAQ:LOB) has received a consensus rating of “Moderate Buy” from five brokerages, with an average twelve-month target price of $45.00.
• Several institutional investors have significantly increased their stakes in Live Oak Bancshares, with 63.95% of the company's stock now owned by institutional investors and hedge funds.
• The company recently announced a dividend of $0.03 per share, yielding 32.0%, which reflects a relatively low dividend payout ratio of 9.84%.

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $45.00.

LOB has been the topic of a number of research analyst reports. National Bankshares set a $50.00 target price on Live Oak Bancshares in a report on Wednesday, September 24th. Keefe, Bruyette & Woods raised Live Oak Bancshares from a "market perform" rating to an "outperform" rating and raised their target price for the company from $37.00 to $43.00 in a report on Tuesday, August 19th. Cantor Fitzgerald initiated coverage on Live Oak Bancshares in a report on Wednesday, September 10th. They issued a "neutral" rating and a $42.00 target price on the stock. Finally, Cowen initiated coverage on Live Oak Bancshares in a report on Wednesday, September 24th. They issued a "buy" rating on the stock.

Institutional Investors Weigh In On Live Oak Bancshares

Several hedge funds have recently modified their holdings of LOB. GAMMA Investing LLC boosted its holdings in shares of Live Oak Bancshares by 4,595.5% during the 1st quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock valued at $252,000 after acquiring an additional 9,237 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Live Oak Bancshares by 100.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,802 shares of the bank's stock valued at $1,034,000 after acquiring an additional 19,457 shares in the last quarter. Aviance Capital Partners LLC acquired a new stake in shares of Live Oak Bancshares during the 1st quarter valued at $790,000. Envestnet Asset Management Inc. boosted its holdings in shares of Live Oak Bancshares by 16.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 145,117 shares of the bank's stock valued at $3,869,000 after acquiring an additional 20,430 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Live Oak Bancshares by 20.2% during the 1st quarter. Rice Hall James & Associates LLC now owns 155,471 shares of the bank's stock valued at $4,145,000 after acquiring an additional 26,085 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Price Performance

Shares of NASDAQ:LOB opened at $33.44 on Monday. The company has a market capitalization of $1.53 billion, a P/E ratio of 23.06 and a beta of 1.81. Live Oak Bancshares has a 1 year low of $22.68 and a 1 year high of $50.20. The business's 50 day simple moving average is $36.10 and its 200 day simple moving average is $31.14.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a sep 25 dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a dividend yield of 32.0%. Live Oak Bancshares's dividend payout ratio (DPR) is 9.84%.

Live Oak Bancshares Company Profile

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.

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