Live Oak Bancshares' (LOB) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB - Free Report) in a research note published on Friday morning, Benzinga reports. They currently have a $40.00 price objective on the bank's stock, down from their prior price objective of $45.00.

Several other equities analysts also recently weighed in on the company. TheStreet downgraded Live Oak Bancshares from a b- rating to a c+ rating in a research report on Monday, January 29th. Truist Financial restated a buy rating and issued a $47.00 price objective on shares of Live Oak Bancshares in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $38.00.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock traded down $1.10 during trading on Friday, reaching $33.18. The company had a trading volume of 356,577 shares, compared to its average volume of 169,779. The firm's 50-day simple moving average is $39.24 and its 200 day simple moving average is $37.36. The firm has a market capitalization of $1.49 billion, a PE ratio of 16.67 and a beta of 1.60. 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 released its quarterly earnings results on Wednesday, January 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.20). Live Oak Bancshares had a return on equity of 10.45% and a net margin of 10.62%. The company had revenue of $119.68 million for the quarter, compared to analyst estimates of $119.36 million. Analysts anticipate that Live Oak Bancshares will post 2.22 EPS 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 paid a $0.03 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. Live Oak Bancshares's dividend payout ratio (DPR) is 6.03%.

Insider Activity

In related news, Director Miltom Emmett Petty sold 10,000 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the sale, the director now directly owns 121,941 shares in the company, valued at approximately $4,844,715.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Micah S. Davis sold 8,613 shares of the stock in a transaction dated 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 owns 43,864 shares of the company's stock, valued at approximately $1,748,857.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Miltom Emmett Petty sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the transaction, the director now owns 121,941 shares of the company's stock, valued at $4,844,715.93. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in Live Oak Bancshares during the 1st quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Live Oak Bancshares by 66.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank's stock valued at $40,000 after buying an additional 551 shares during the period. Independence Bank of Kentucky acquired a new position in shares of Live Oak Bancshares during the first quarter worth about $44,000. Blue Trust Inc. increased its stake in shares of Live Oak Bancshares by 1,127.6% during the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank's stock worth $97,000 after buying an additional 1,962 shares during the period. Finally, Toth Financial Advisory Corp raised its holdings in Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank's stock valued at $136,000 after acquiring an additional 775 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.

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.