Live Oak Bancshares (NASDAQ:LOB) Trading Down 4.1% Following Analyst Downgrade

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) dropped 4.1% on Friday after Truist Financial lowered their price target on the stock from $47.00 to $38.00. Truist Financial currently has a buy rating on the stock. Live Oak Bancshares traded as low as $32.88 and last traded at $32.88. Approximately 172,381 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 167,386 shares. The stock had previously closed at $34.28.

A number of other research analysts have also recently commented on LOB. Keefe, Bruyette & Woods restated a "market perform" rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday. TheStreet cut shares of Live Oak Bancshares from a "b-" rating to a "c+" rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares currently has an average rating of "Hold" and a consensus target price of $38.00.

Insider Activity

In other news, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the transaction, the insider now owns 43,864 shares in the company, valued at $1,748,857.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Miltom Emmett Petty sold 10,000 shares of Live Oak Bancshares stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $39.73, for a total value of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares in the company, valued at $4,844,715.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Micah S. Davis sold 8,613 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total value of $343,400.31. Following the sale, 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. 23.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors have recently modified their holdings of LOB. Cornercap Investment Counsel Inc. acquired a new stake in Live Oak Bancshares during the 4th quarter worth $1,285,000. Trust Co of the South acquired a new stake in Live Oak Bancshares during the 4th quarter worth $15,042,000. CenterBook Partners LP grew its holdings in Live Oak Bancshares by 41.3% during the 3rd quarter. CenterBook Partners LP now owns 137,966 shares of the bank's stock worth $3,994,000 after acquiring an additional 40,343 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Live Oak Bancshares during the 3rd quarter worth $994,000. Finally, Bank of New York Mellon Corp grew its holdings in Live Oak Bancshares by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank's stock worth $5,708,000 after acquiring an additional 2,721 shares during the period. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Trading Down 3.2 %

The business's fifty day simple moving average is $39.24 and its 200 day simple moving average is $37.36. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 16.67 and a beta of 1.60.

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

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, February 26th. Live Oak Bancshares's dividend payout ratio (DPR) is 6.03%.

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.