Live Oak Bancshares (NASDAQ:LOB) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a report released on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $47.00 target price on the bank’s stock, up from their previous target price of $40.00.

LOB has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price target on Live Oak Bancshares from $46.00 to $45.00 and set an overweight rating for the company in a research report on Thursday, June 27th. Truist Financial dropped their price target on shares of Live Oak Bancshares from $40.00 to $38.00 and set a buy rating on the stock in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $47.25.

Live Oak Bancshares Trading Down 3.5 %

LOB opened at $44.08 on Friday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 22.15 and a beta of 1.62. The company’s fifty day moving average price is $35.73 and its two-hundred day moving average price is $37.50. Live Oak Bancshares has a 1-year low of $26.11 and a 1-year high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.13. The business had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 11.13%. During the same quarter last year, the firm earned $0.39 EPS. As a group, equities analysts forecast that Live Oak Bancshares will post 1.93 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Tuesday, June 4th. Live Oak Bancshares’s payout ratio is 6.03%.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total value of $93,522.00. Following the sale, the director now owns 5,870 shares of the company’s stock, valued at $211,143.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.90% of the stock is owned by company insiders.

Institutional Trading of Live Oak Bancshares

Several hedge funds have recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in Live Oak Bancshares in the 1st quarter worth about $28,000. Independence Bank of Kentucky bought a new position in Live Oak Bancshares during the first quarter worth about $44,000. Allspring Global Investments Holdings LLC increased its stake in shares of Live Oak Bancshares by 1,885.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after purchasing an additional 2,206 shares in the last quarter. Blue Trust Inc. raised its position in shares of Live Oak Bancshares by 1,127.6% in the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after purchasing an additional 1,962 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Live Oak Bancshares during the 1st quarter valued at approximately $129,000. 63.95% of the stock is currently owned by institutional investors.

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.