Live Oak Bancshares (NASDAQ:LOB) Given Market Perform Rating at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods have reaffirmed a "market perform" rating for Live Oak Bancshares (NASDAQ: LOB) and raised their target price to $37.00, suggesting a potential upside of 13.92% from the previous close.
• Conversely, Wall Street Zen downgraded the stock from a "hold" to a "sell" rating on March 28th.
• Recent transactions show Director William Henderson Cameron acquired 5,000 shares at an average price of $25.92, increasing his stake in the company significantly.
• Approximately 63.95% of Live Oak Bancshares' stock is held by hedge funds and institutional investors, indicating strong support from larger investment entities.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report)'s stock had its "market perform" rating reaffirmed by Keefe, Bruyette & Woods in a report released on Friday,Benzinga reports. They presently have a $37.00 target price on the bank's stock, up from their prior target price of $36.00. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 13.92% from the company's previous close.

Separately, Wall Street Zen downgraded Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $32.48 on Friday. The company has a market cap of $1.48 billion, a P/E ratio of 22.40 and a beta of 1.84. The business's 50 day moving average price is $29.57 and its 200-day moving average price is $30.11. Live Oak Bancshares has a fifty-two week low of $22.68 and a fifty-two week high of $50.57.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $25.92 per share, for a total transaction of $129,600.00. Following the acquisition, the director directly owned 11,904 shares in the company, valued at $308,551.68. The trade was a 72.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Oak Bancshares

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in 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 during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 during the period. Raymond James Financial Inc. purchased a new position in Live Oak Bancshares during the 4th quarter valued at $5,277,000. Rice Hall James & Associates LLC boosted its holdings in 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 during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Live Oak Bancshares by 15.0% in the 4th quarter. Deutsche Bank AG now owns 86,017 shares of the bank's stock worth $3,402,000 after buying an additional 11,248 shares during the period. Hedge funds and other 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.

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