Live Oak Bancshares, Inc. (NASDAQ:LOB) has been given an average recommendation of “Buy” by the seven brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $66.00.
A number of equities research analysts have weighed in on LOB shares. Raymond James raised their price target on Live Oak Bancshares from $42.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Friday, January 29th. JPMorgan Chase & Co. assumed coverage on Live Oak Bancshares in a research note on Monday. They issued a “neutral” rating and a $78.00 target price on the stock. Zacks Investment Research cut Live Oak Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, March 31st. Finally, Truist lifted their price objective on Live Oak Bancshares from $60.00 to $65.00 in a research report on Monday, March 8th.
Live Oak Bancshares stock traded down $0.36 during mid-day trading on Monday, hitting $71.24. 188,681 shares of the company’s stock were exchanged, compared to its average volume of 358,392. The company’s 50 day simple moving average is $64.41 and its 200-day simple moving average is $48.31. Live Oak Bancshares has a fifty-two week low of $10.90 and a fifty-two week high of $72.64. The firm has a market capitalization of $3.04 billion, a P/E ratio of 80.96 and a beta of 1.30.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 23rd. Shareholders of record on Tuesday, March 9th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Monday, March 8th. Live Oak Bancshares’s dividend payout ratio (DPR) is 27.27%.
In other news, insider Steve Smits sold 15,000 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $43.40, for a total value of $651,000.00. Following the transaction, the insider now owns 151,206 shares of the company’s stock, valued at approximately $6,562,340.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 25.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new stake in Live Oak Bancshares during the 3rd quarter valued at approximately $28,000. Baldwin Brothers Inc. MA acquired a new position in shares of Live Oak Bancshares in the 1st quarter valued at $34,000. NEXT Financial Group Inc increased its holdings in Live Oak Bancshares by 282.7% in the 4th quarter. NEXT Financial Group Inc now owns 2,591 shares of the bank’s stock worth $123,000 after acquiring an additional 1,914 shares in the last quarter. Capstone Triton Financial Group LLC purchased a new stake in Live Oak Bancshares in the 4th quarter worth $159,000. Finally, Captrust Financial Advisors increased its holdings in Live Oak Bancshares by 74.5% in the 3rd quarter. Captrust Financial Advisors now owns 6,776 shares of the bank’s stock worth $176,000 after acquiring an additional 2,894 shares in the last quarter. Institutional investors own 43.59% of the company’s stock.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company for Live Oak Banking Company, which operates as a national online platform for small business lending. It operates through the following segments: Banking, Fintech, and Other. The Banking segment provides financing services to small businesses nationwide in targeted industries and deposit-related services to small businesses, consumers, and other customers nationwide.
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