Live Oak Bancshares, Inc. (NASDAQ:LOB) Given Average Rating of “Moderate Buy” by Brokerages

Live Oak Bancshares, Inc. (NASDAQ:LOB) has been assigned a consensus recommendation of “Moderate Buy” from the three analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.00.

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target (down from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. Truist Financial lowered their price target on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, TheStreet cut shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a report on Monday, January 29th.

Live Oak Bancshares Stock Up 1.5 %

Live Oak Bancshares stock opened at $35.32 on Friday. The company’s fifty day simple moving average is $38.56 and its 200-day simple moving average is $37.57. Live Oak Bancshares has a 12 month low of $19.53 and a 12 month high of $47.22. The stock has a market cap of $1.58 billion, a P/E ratio of 17.75 and a beta of 1.63.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

Insider Buying and Selling

In related news, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the sale, the insider now directly owns 43,864 shares in the company, valued at $1,748,857.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 in the company, valued at $1,748,857.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director now 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Live Oak Bancshares

A number of hedge funds have recently bought and sold shares of LOB. Riverview Trust Co acquired a new position in shares of Live Oak Bancshares during the first quarter valued at about $28,000. Independence Bank of Kentucky acquired a new position in shares of Live Oak Bancshares during the first quarter valued at about $44,000. Allspring Global Investments Holdings LLC raised its position in shares of Live Oak Bancshares by 66.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock valued at $40,000 after buying an additional 551 shares during the last quarter. Blue Trust Inc. raised its position in shares of Live Oak Bancshares by 1,127.6% during the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after buying an additional 1,962 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of Live Oak Bancshares by 34.8% during the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after buying an additional 775 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.

About Live Oak Bancshares

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.