Live Oak Bancshares (NASDAQ:LOB – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
LOB has been the subject of several other reports. JPMorgan Chase & Co. raised shares of Live Oak Bancshares from a “neutral” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Thursday, October 5th. TheStreet upgraded shares of Live Oak Bancshares from a “c” rating to a “b-” rating in a report on Wednesday, December 13th. Finally, Truist Financial lifted their price target on shares of Live Oak Bancshares from $35.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares has an average rating of “Hold” and an average price target of $37.75.
Live Oak Bancshares Price Performance
LOB stock traded up $0.90 during midday trading on Wednesday, hitting $46.26. The stock had a trading volume of 275,688 shares, compared to its average volume of 257,802. The firm has a market cap of $2.06 billion, a PE ratio of 35.05 and a beta of 1.51. Live Oak Bancshares has a 12-month low of $17.31 and a 12-month high of $46.61. The company’s 50-day moving average price is $34.56 and its 200 day moving average price is $31.91.
Live Oak Bancshares (NASDAQ:LOB – Get Free Report) last released its earnings results on Wednesday, October 25th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. The firm had revenue of $127.30 million during the quarter, compared to analysts’ expectations of $115.52 million. Live Oak Bancshares had a net margin of 8.05% and a return on equity of 7.18%. As a group, sell-side analysts anticipate that Live Oak Bancshares will post 1.83 EPS for the current year.
Insider Transactions at Live Oak Bancshares
In other news, insider Steve Smits sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $36.25, for a total value of $362,500.00. Following the completion of the sale, the insider now owns 145,751 shares of the company’s stock, valued at approximately $5,283,473.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $33.49, for a total value of $669,800.00. Following the completion of the transaction, the chief accounting officer now owns 56,269 shares in the company, valued at approximately $1,884,448.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steve Smits sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $36.25, for a total transaction of $362,500.00. Following the completion of the transaction, the insider now owns 145,751 shares of the company’s stock, valued at approximately $5,283,473.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,000 shares of company stock valued at $2,157,800. Insiders own 24.90% of the company’s stock.
Institutional Trading of Live Oak Bancshares
A number of institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. lifted its stake in Live Oak Bancshares by 2.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 12,375 shares of the bank’s stock valued at $630,000 after purchasing an additional 281 shares during the last quarter. American International Group Inc. lifted its stake in Live Oak Bancshares by 2.5% during the second quarter. American International Group Inc. now owns 16,203 shares of the bank’s stock valued at $426,000 after purchasing an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 purchasing an additional 551 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Live Oak Bancshares by 12.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,463 shares of the bank’s stock valued at $165,000 after purchasing an additional 616 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Live Oak Bancshares by 0.9% during the first quarter. First Trust Advisors LP now owns 81,318 shares of the bank’s stock valued at $4,138,000 after purchasing an additional 711 shares during the last quarter. 62.12% of the stock is owned by institutional investors and hedge funds.
About Live Oak Bancshares
Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. It operates in two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, certificate of deposits, savings, and time deposits.