TD Cowen Has Lowered Expectations for Live Oak Bancshares (NASDAQ:LOB) Stock Price

Live Oak Bancshares (NASDAQ:LOB) had its price target decreased by stock analysts at TD Cowen from $53.00 to $51.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. TD Cowen’s target price would indicate a potential upside of 22.31% from the company’s current price.

Separately, Piper Sandler lowered their target price on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.20.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $41.70 on Tuesday. The stock’s 50 day simple moving average is $36.17 and its 200-day simple moving average is $34.87. The company has a market cap of $1.91 billion, a PE ratio of 28.76 and a beta of 2.02. Live Oak Bancshares has a 1-year low of $22.68 and a 1-year high of $42.89.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director Tonya Williams Bradford purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were acquired at an average price of $30.24 per share, with a total value of $30,240.00. Following the purchase, the director directly owned 6,697 shares in the company, valued at approximately $202,517.28. This trade represents a 17.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Courtney Spencer sold 9,700 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $39.01, for a total value of $378,397.00. Following the sale, the insider directly owned 25,160 shares of the company’s stock, valued at $981,491.60. The trade was a 27.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Live Oak Bancshares by 60.1% in the third quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock valued at $49,000 after buying an additional 512 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new position in Live Oak Bancshares during the 4th quarter valued at about $55,000. State of Alaska Department of Revenue acquired a new position in Live Oak Bancshares in the 3rd quarter valued at about $63,000. Tower Research Capital LLC TRC increased its stake in Live Oak Bancshares by 138.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank’s stock worth $95,000 after purchasing an additional 1,850 shares during the period. Finally, CWM LLC increased its stake in Live Oak Bancshares by 1,547.3% during the second quarter. CWM LLC now owns 3,904 shares of the bank’s stock worth $116,000 after purchasing an additional 3,667 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.