Truist Financial Lowers Live Oak Bancshares (NASDAQ:LOB) Price Target to $46.00

Live Oak Bancshares (NASDAQ:LOB) had its price target cut by stock analysts at Truist Financial from $57.00 to $46.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s price objective would indicate a potential upside of 16.02% from the company’s previous close.

LOB has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Piper Sandler dropped their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.50.

Live Oak Bancshares Stock Performance

LOB opened at $39.65 on Monday. The firm has a market cap of $1.78 billion, a P/E ratio of 19.92 and a beta of 1.60. Live Oak Bancshares has a fifty-two week low of $27.79 and a fifty-two week high of $50.57. The firm has a 50-day moving average of $45.11 and a 200 day moving average of $39.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $126.63 million. During the same quarter in the previous year, the business earned $0.88 EPS. Equities research analysts predict that Live Oak Bancshares will post 2.31 earnings per share for the current fiscal year.

Insider Activity at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank bought a new position in shares of Live Oak Bancshares in the 2nd quarter worth $542,000. Jacobs Levy Equity Management Inc. purchased a new stake in Live Oak Bancshares during the first quarter valued at about $1,350,000. Vanguard Group Inc. lifted its stake in Live Oak Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock worth $105,273,000 after purchasing an additional 27,086 shares during the last quarter. Capital International Investors purchased a new position in shares of Live Oak Bancshares in the 1st quarter worth about $18,628,000. Finally, Russell Investments Group Ltd. increased its position in shares of Live Oak Bancshares by 1.7% during the 1st quarter. Russell Investments Group Ltd. now owns 118,609 shares of the bank’s stock valued at $4,923,000 after purchasing an additional 1,961 shares during the last quarter. 63.95% of the stock is 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.