Live Oak Bancshares (NASDAQ:LOB) Now Covered by Cantor Fitzgerald

Key Points

• Analysts at Cantor Fitzgerald have initiated coverage on Live Oak Bancshares (NASDAQ:LOB) with a "neutral" rating and a price target of $42.00, suggesting a potential upside of 13.46% from its previous close.
• Keefe, Bruyette & Woods has upgraded Live Oak Bancshares from "market perform" to "outperform," raising their price target from $37.00 to $43.00, contributing to a consensus rating of "Moderate Buy."
• Institutional investors hold 63.95% of Live Oak Bancshares' stock, with significant increases in stake from several firms, showing heightened institutional interest.

Investment analysts at Cantor Fitzgerald began coverage on shares of Live Oak Bancshares (NASDAQ:LOB - Get Free Report) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a "neutral" rating and a $42.00 price target on the bank's stock. Cantor Fitzgerald's price target indicates a potential upside of 16.22% from the company's previous close.

Separately, Keefe, Bruyette & Woods raised shares of Live Oak Bancshares from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $37.00 to $43.00 in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.75.

Live Oak Bancshares Stock Performance

NASDAQ LOB traded down $0.39 during trading hours on Wednesday, reaching $36.14. The stock had a trading volume of 69,295 shares, compared to its average volume of 288,128. Live Oak Bancshares has a 52-week low of $22.68 and a 52-week high of $50.57. The stock has a fifty day moving average of $34.27 and a 200 day moving average of $29.83. The stock has a market cap of $1.65 billion, a P/E ratio of 24.92 and a beta of 1.75.

Institutional Investors Weigh In On Live Oak Bancshares

Hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its stake in shares of Live Oak Bancshares by 1.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,484,524 shares of the bank's stock valued at $172,878,000 after purchasing an additional 65,038 shares in the last quarter. Vanguard Group Inc. grew its holdings in Live Oak Bancshares by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,657,737 shares of the bank's stock valued at $70,855,000 after purchasing an additional 26,481 shares during the period. Southernsun Asset Management LLC increased its position in shares of Live Oak Bancshares by 3.2% in the second quarter. Southernsun Asset Management LLC now owns 899,729 shares of the bank's stock valued at $26,812,000 after buying an additional 27,795 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Live Oak Bancshares by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 817,181 shares of the bank's stock worth $24,355,000 after buying an additional 22,230 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Live Oak Bancshares by 655.6% during the 1st quarter. Millennium Management LLC now owns 687,885 shares of the bank's stock worth $18,339,000 after buying an additional 596,841 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

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.