Live Oak Bancshares (NASDAQ:LOB) Price Target Cut to $38.00 by Analysts at Truist Financial

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) had its price target decreased by equities research analysts at Truist Financial from $47.00 to $38.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the bank's stock. Truist Financial's price objective points to a potential upside of 14.53% from the stock's current price.

Several other analysts have also commented on LOB. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $40.00 price target (down from $45.00) on shares of Live Oak Bancshares in a research report on Friday. TheStreet lowered shares of Live Oak Bancshares from a "b-" rating to a "c+" rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $38.00.

Live Oak Bancshares Price Performance

Shares of NASDAQ:LOB traded down $1.10 during mid-day trading on Friday, reaching $33.18. 356,577 shares of the company were exchanged, compared to its average volume of 169,779. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 16.67 and a beta of 1.60. The firm's 50-day simple moving average is $39.24 and its 200 day simple moving average is $37.36. Live Oak Bancshares has a 1 year low of $19.53 and a 1 year high of $47.22.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.20). The business had revenue of $119.68 million during the quarter, compared to analysts' expectations of $119.36 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.45%. On average, research analysts forecast that Live Oak Bancshares will post 2.22 earnings per share for the current fiscal year.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the transaction, the director now directly owns 121,941 shares of the company's stock, valued at approximately $4,844,715.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the transaction, the director now directly owns 121,941 shares of the company's stock, valued at approximately $4,844,715.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Micah S. Davis sold 8,613 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the transaction, the insider now directly owns 43,864 shares of the company's stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Company insiders own 23.90% of the company's stock.

Institutional Trading of Live Oak Bancshares

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Live Oak Bancshares by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,509,008 shares of the bank's stock valued at $114,160,000 after purchasing an additional 27,451 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Live Oak Bancshares by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank's stock valued at $60,415,000 after purchasing an additional 61,029 shares during the last quarter. Trust Co of the South acquired a new stake in shares of Live Oak Bancshares during the fourth quarter worth $15,042,000. American Century Companies Inc. lifted its holdings in shares of Live Oak Bancshares by 1.6% during the third quarter. American Century Companies Inc. now owns 287,714 shares of the bank's stock worth $8,329,000 after buying an additional 4,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Live Oak Bancshares by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 259,231 shares of the bank's stock worth $11,795,000 after purchasing an additional 2,979 shares during the period. 63.95% of the stock is currently owned by 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.