Truist Financial Cuts Live Oak Bancshares (NASDAQ:LOB) Price Target to $38.00

Live Oak Bancshares (NASDAQ:LOB) had its price target reduced by investment analysts at Truist Financial from $47.00 to $38.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Truist Financial’s target price indicates a potential upside of 13.13% from the company’s previous close.

Several other equities research analysts also recently commented on LOB. TheStreet downgraded shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 target price (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.00.

Live Oak Bancshares Stock Down 2.0 %

LOB traded down $0.69 during trading on Friday, reaching $33.59. 117,038 shares of the company’s stock were exchanged, compared to its average volume of 166,715. Live Oak Bancshares has a fifty-two week low of $19.53 and a fifty-two week high of $47.22. The business has a 50 day moving average price of $39.24 and a 200 day moving average price of $37.36. The company has a market capitalization of $1.50 billion, a P/E ratio of 16.87 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). Live Oak Bancshares had a return on equity of 10.45% and a net margin of 10.62%. The business had revenue of $119.68 million for the quarter, compared to analyst estimates of $119.36 million. As a group, research analysts forecast that Live Oak Bancshares will post 2.22 EPS for the current year.

Insider Buying and Selling

In related news, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the transaction, the director now owns 121,941 shares in the company, valued at approximately $4,844,715.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the completion of the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Miltom Emmett Petty sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $39.73, for a total value of $397,300.00. Following the sale, the director now directly owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The disclosure for this sale can be found here. 23.90% of the stock is owned by corporate insiders.

Institutional Trading of Live Oak Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of Live Oak Bancshares by 1.0% in the 4th quarter. Signaturefd LLC now owns 28,333 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 294 shares during the last quarter. Toth Financial Advisory Corp increased its stake in shares of Live Oak Bancshares by 10.7% in the 1st quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock valued at $138,000 after acquiring an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Live Oak Bancshares by 66.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock valued at $40,000 after acquiring an additional 551 shares during the last quarter. Parsons Capital Management Inc. RI increased its stake in shares of Live Oak Bancshares by 4.5% in the 1st quarter. Parsons Capital Management Inc. RI now owns 13,800 shares of the bank’s stock valued at $573,000 after acquiring an additional 600 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Live Oak Bancshares in the 1st quarter valued at about $28,000. 63.95% of the stock is owned by 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.