Live Oak Bancshares (NASDAQ:LOB) Shares Down 4.1% on Analyst Downgrade

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s share price traded down 4.1% during mid-day trading 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. 172,381 shares were traded during mid-day trading, an increase of 3% from the average session volume of 167,386 shares. The stock had previously closed at $34.28.

Other equities analysts have also issued research reports about the company. TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 target price (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Insider Buying and Selling

In other Live Oak Bancshares news, 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 transaction of $397,300.00. Following the sale, the director now directly owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Miltom Emmett Petty sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the transaction, the director now directly owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Micah S. Davis sold 8,613 shares of the business’s stock in a transaction on 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 directly owns 43,864 shares in the company, 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

A number of hedge funds have recently made changes to their positions in LOB. Riverview Trust Co acquired a new stake in Live Oak Bancshares during the 1st quarter valued at $28,000. Allspring Global Investments Holdings LLC boosted its stake in Live Oak Bancshares by 66.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after purchasing an additional 551 shares in the last quarter. Independence Bank of Kentucky acquired a new position in Live Oak Bancshares in the first quarter valued at about $44,000. Blue Trust Inc. raised its holdings 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 acquiring an additional 1,962 shares during the period. Finally, Toth Financial Advisory Corp increased its position in shares of 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 during the last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Down 4.0 %

The company has a market capitalization of $1.47 billion, a P/E ratio of 16.87 and a beta of 1.60. The company’s fifty day moving average price is $39.24 and its 200 day moving average price is $37.36.

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

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio is currently 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.