Live Oak Bancshares (NASDAQ:LOB) Given New $38.00 Price Target at Truist Financial

Live Oak Bancshares (NASDAQ:LOB) had its price objective lowered by Truist Financial from $47.00 to $38.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other research firms also recently weighed in on LOB. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $40.00 target price (down previously from $45.00) on shares of Live Oak Bancshares in a report on Friday. TheStreet downgraded Live Oak Bancshares from a b- rating to a c+ rating in a report on Monday, January 29th. One 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.com, Live Oak Bancshares has a consensus rating of Hold and an average price target of $38.00.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $33.44 on Friday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 16.80 and a beta of 1.60. The firm’s 50-day moving average is $39.11 and its two-hundred day moving average is $37.51. Live Oak Bancshares has a 12 month low of $19.53 and a 12 month high of $47.22.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, February 26th. Live Oak Bancshares’s payout ratio is presently 6.03%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in LOB. Principal Financial Group Inc. purchased a new stake in shares of Live Oak Bancshares during the first quarter worth approximately $939,000. Pinnacle Associates Ltd. acquired a new position in Live Oak Bancshares in the 1st quarter valued at $852,000. Parsons Capital Management Inc. RI raised its position in Live Oak Bancshares by 4.5% during the 1st quarter. Parsons Capital Management Inc. RI now owns 13,800 shares of the bank’s stock worth $573,000 after buying an additional 600 shares during the last quarter. Chatham Capital Group Inc. lifted its stake in shares of Live Oak Bancshares by 13.3% in the 1st quarter. Chatham Capital Group Inc. now owns 43,080 shares of the bank’s stock worth $1,788,000 after acquiring an additional 5,045 shares during the period. Finally, Toth Financial Advisory Corp boosted its holdings in shares of Live Oak Bancshares by 10.7% in the first 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 in 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.