Piper Sandler Has Lowered Expectations for Live Oak Bancshares (NASDAQ:LOB) Stock Price

Key Points

• Research analysts at Piper Sandler reduced the price target for Live Oak Bancshares (NASDAQ:LOB) from $37.00 to $35.00, maintaining a "neutral" rating.
• Despite the lowered target by Piper Sandler, other analysts have varied opinions, with Keefe, Bruyette & Woods upgrading their rating from "market perform" to "outperform" and setting a target of $43.00.
• Live Oak Bancshares' stock is currently performing well, trading at $34.58, with a 52-week range of $22.68 to $50.17, and a significant portion of its shares (63.95%) are held by institutional investors.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) had its price target decreased by research analysts at Piper Sandler from $37.00 to $35.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a "neutral" rating on the bank's stock. Piper Sandler's target price indicates a potential upside of 1.23% from the company's current price.

A number of other equities analysts also recently weighed in on LOB. Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $37.00 to $43.00 in a research note on Tuesday, August 19th. Cowen initiated coverage on Live Oak Bancshares in a research note on Wednesday, September 24th. They issued a "buy" rating on the stock. Cantor Fitzgerald initiated coverage on Live Oak Bancshares in a research note on Wednesday, September 10th. They issued a "neutral" rating and a $42.00 target price on the stock. Finally, National Bankshares set a $50.00 target price on Live Oak Bancshares in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.20.

Live Oak Bancshares Stock Performance

Shares of LOB stock traded up $1.07 during mid-day trading on Friday, hitting $34.58. The company's stock had a trading volume of 33,946 shares, compared to its average volume of 290,358. Live Oak Bancshares has a 52 week low of $22.68 and a 52 week high of $50.17. The company has a market cap of $1.58 billion, a PE ratio of 23.84 and a beta of 1.81. The company's fifty day simple moving average is $36.16 and its 200-day simple moving average is $31.33.

Institutional Trading of Live Oak Bancshares

Institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in Live Oak Bancshares by 655.6% in the first 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 in the last quarter. Nuveen LLC purchased a new stake in Live Oak Bancshares in the first quarter worth approximately $8,116,000. Citigroup Inc. boosted its stake in shares of Live Oak Bancshares by 428.2% during the 1st quarter. Citigroup Inc. now owns 295,250 shares of the bank's stock worth $7,871,000 after acquiring an additional 239,356 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Live Oak Bancshares by 1,263.2% during the 1st quarter. Jane Street Group LLC now owns 201,816 shares of the bank's stock worth $5,380,000 after acquiring an additional 187,011 shares during the last quarter. Finally, CenterBook Partners LP raised its position in shares of Live Oak Bancshares by 105.4% during the 2nd quarter. CenterBook Partners LP now owns 356,416 shares of the bank's stock valued at $10,621,000 after purchasing an additional 182,851 shares during the period. 63.95% of the stock is currently 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.

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