Live Oak Bancshares (NASDAQ:LOB) Earns Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a research note released on Friday morning, Benzinga reports. The firm currently has a $40.00 price objective on the bank’s stock, down from their previous price objective of $45.00.

A number of other research analysts have also weighed in on LOB. TheStreet lowered Live Oak Bancshares from a b- rating to a c+ rating in a report on Monday, January 29th. Truist Financial reaffirmed a buy rating and set a $47.00 price objective on shares of Live Oak Bancshares in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $38.00.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock opened at $33.18 on Friday. Live Oak Bancshares has a 12 month low of $19.53 and a 12 month high of $47.22. The business has a 50 day simple moving average of $39.11 and a 200-day simple moving average of $37.45. The stock has a market capitalization of $1.49 billion, a PE ratio of 16.67 and a beta of 1.60.

Live Oak Bancshares Announces Dividend

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

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction 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 sale, the insider now owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Micah S. Davis sold 8,613 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction on Thursday, February 29th. The shares were 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 in the company, valued at approximately $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

Large investors have recently made changes to their positions in the stock. Cornercap Investment Counsel Inc. purchased a new position in Live Oak Bancshares during the fourth quarter worth about $1,285,000. Trust Co of the South purchased a new position in Live Oak Bancshares during the fourth quarter worth about $15,042,000. CenterBook Partners LP lifted its position in Live Oak Bancshares by 41.3% during the third quarter. CenterBook Partners LP now owns 137,966 shares of the bank’s stock worth $3,994,000 after buying an additional 40,343 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Live Oak Bancshares during the third quarter worth about $994,000. Finally, Bank of New York Mellon Corp lifted its position in Live Oak Bancshares by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock worth $5,708,000 after buying an additional 2,721 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.