Piper Sandler Trims Live Oak Bancshares (NASDAQ:LOB) Target Price to $44.00

Live Oak Bancshares (NASDAQ:LOB) had its price objective lowered by equities research analysts at Piper Sandler from $50.00 to $44.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 8.24% from the company’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their target price 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 lifted their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.25.

Live Oak Bancshares Trading Down 2.8 %

Shares of LOB traded down $1.18 during trading hours on Friday, reaching $40.65. 54,438 shares of the company traded hands, compared to its average volume of 176,823. The stock’s fifty day moving average price is $45.13 and its 200 day moving average price is $39.59. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 20.46 and a beta of 1.60. Live Oak Bancshares has a 12-month low of $27.79 and a 12-month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The company had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, research analysts forecast that Live Oak Bancshares will post 2.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at $1,143,929. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp boosted its holdings in Live Oak Bancshares by 10.7% in the first quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock worth $138,000 after acquiring an additional 320 shares in the last quarter. ProShare Advisors LLC increased its stake in Live Oak Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock valued at $251,000 after purchasing an additional 476 shares in the last quarter. Cetera Advisors LLC increased its stake in Live Oak Bancshares by 9.2% during the 1st quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock valued at $245,000 after purchasing an additional 500 shares in the last quarter. nVerses Capital LLC raised its holdings in shares of 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 buying an additional 700 shares during the last quarter. Finally, Chatham Capital Group Inc. lifted its stake in shares of Live Oak Bancshares by 1.7% during the second quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock worth $1,536,000 after buying an additional 735 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.