Live Oak Bancshares (NASDAQ:LOB) PT Raised to $57.00 at Truist Financial

Live Oak Bancshares (NASDAQ:LOB) had its price objective hoisted by stock analysts at Truist Financial from $51.00 to $57.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s target price indicates a potential upside of 16.59% from the company’s previous close.

LOB has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Finally, Piper Sandler lifted their target price on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares currently has an average rating of “Hold” and an average price target of $48.75.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB opened at $48.89 on Friday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 24.57 and a beta of 1.60. Live Oak Bancshares has a one year low of $26.11 and a one year high of $50.57. The firm’s 50 day simple moving average is $42.53 and its two-hundred day simple moving average is $38.38.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The company had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. During the same quarter last year, the company earned $0.39 EPS. As a group, equities analysts expect that Live Oak Bancshares will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the transaction, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LOB. Toth Financial Advisory Corp grew its stake 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 purchasing an additional 320 shares during the period. ProShare Advisors LLC boosted its holdings in shares of 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 buying an additional 476 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Live Oak Bancshares by 9.2% in the 1st quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock worth $245,000 after buying an additional 500 shares during the period. Riverview Trust Co bought a new position in shares of Live Oak Bancshares in the 1st quarter worth about $28,000. Finally, Chatham Capital Group Inc. lifted its position in Live Oak Bancshares by 1.7% during the 2nd quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock valued at $1,536,000 after acquiring an additional 735 shares during the period. Institutional investors own 63.95% of the company’s stock.

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.