Brokerages Set Live Oak Bancshares, Inc. (NYSE:LOB) PT at $44.20

Live Oak Bancshares, Inc. (NYSE:LOB) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $44.20.

Several analysts recently commented on the stock. TD Cowen cut their price objective on shares of Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Zacks Research upgraded shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Oak Bancshares in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd.

Live Oak Bancshares Stock Down 0.0%

Live Oak Bancshares stock opened at $31.80 on Friday. Live Oak Bancshares has a twelve month low of $22.68 and a twelve month high of $42.89. The company has a market capitalization of $1.46 billion, a P/E ratio of 14.32 and a beta of 1.97. The stock’s 50 day moving average is $37.71 and its 200 day moving average is $35.57.

Live Oak Bancshares (NYSE:LOB) last released its earnings results on Wednesday, January 21st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.56 by $0.39. The business had revenue of $161.86 million for the quarter. Live Oak Bancshares had a return on equity of 9.71% and a net margin of 10.09%.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 5.41%.

Insiders Place Their Bets

In related news, insider Ewa Maria Stasiowska acquired 2,595 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were bought at an average price of $38.53 per share, for a total transaction of $99,985.35. Following the completion of the transaction, the insider directly owned 2,595 shares in the company, valued at approximately $99,985.35. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Courtney Spencer sold 9,700 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $39.01, for a total transaction of $378,397.00. Following the completion of the sale, the insider owned 25,160 shares in the company, valued at $981,491.60. This represents a 27.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,412 shares of company stock worth $660,862 over the last three months. Company insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On Live Oak Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in Live Oak Bancshares by 28.7% during the first quarter. Royal Bank of Canada now owns 18,592 shares of the company’s stock valued at $495,000 after acquiring an additional 4,146 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Live Oak Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company’s stock valued at $549,000 after buying an additional 880 shares during the period. Millennium Management LLC grew its position in Live Oak Bancshares by 655.6% during the first quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock valued at $18,339,000 after buying an additional 596,841 shares during the period. Goldman Sachs Group Inc. increased its holdings in Live Oak Bancshares by 15.2% during the first quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the company’s stock valued at $7,041,000 after buying an additional 34,849 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Live Oak Bancshares during the first quarter valued at approximately $1,758,000. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.