Live Oak Bancshares (NASDAQ:LOB) Stock Price Up 15.2% – What’s Next?

Live Oak Bancshares, Inc. (NASDAQ:LOB) shares were up 15.2% during trading on Wednesday . The stock traded as high as $48.94 and last traded at $48.70. Approximately 89,428 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 178,566 shares. The stock had previously closed at $42.26.

Analysts Set New Price Targets

LOB has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Piper Sandler lowered their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Truist Financial cut their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Live Oak Bancshares has a consensus rating of “Hold” and a consensus price target of $45.50.

Live Oak Bancshares Trading Up 17.1 %

The firm has a market cap of $2.23 billion, a P/E ratio of 25.68 and a beta of 1.63. The company’s fifty day moving average price is $44.98 and its two-hundred day moving average price is $39.73.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.81% and a net margin of 7.99%. The firm had revenue of $241.87 million for the quarter, compared to the consensus estimate of $126.63 million. During the same period in the prior year, the company posted $0.88 earnings per share. On average, analysts predict that Live Oak Bancshares, Inc. will post 2.16 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. Live Oak Bancshares’s dividend payout ratio is 7.55%.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the sale, the chief accounting officer now owns 26,603 shares in the company, valued at approximately $1,143,929. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Live Oak Bancshares news, Director William Henderson Cameron purchased 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the transaction, the director now directly owns 202,217 shares in the company, valued at $8,040,147.92. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the transaction, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC raised its holdings in Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after purchasing an additional 700 shares during the period. Quest Partners LLC grew its position in shares of Live Oak Bancshares by 68.4% in the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after purchasing an additional 823 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Live Oak Bancshares by 1,885.5% during the 2nd 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. Public Employees Retirement System of Ohio bought a new stake in Live Oak Bancshares during the 1st quarter worth approximately $129,000. Finally, New York State Teachers Retirement System lifted its stake in Live Oak Bancshares by 161.4% in the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock valued at $150,000 after buying an additional 1,954 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

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.