Live Oak Bancshares (NASDAQ:LOB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.
A number of other equities research analysts have also recently commented on LOB. Zacks Investment Research cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. TheStreet upgraded shares of Live Oak Bancshares from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Keefe, Bruyette & Woods began coverage on shares of Live Oak Bancshares in a research note on Monday, October 16th. They set a “market perform” rating and a $26.00 target price on the stock. SunTrust Banks reiterated a “buy” rating and set a $27.00 price objective on shares of Live Oak Bancshares in a research report on Thursday, October 12th. Finally, Sandler O’Neill upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and reduced their price objective for the company from $25.00 to $24.00 in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Live Oak Bancshares presently has a consensus rating of “Hold” and a consensus price target of $26.50.
Live Oak Bancshares (LOB) opened at $25.20 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1,110.00 and a P/E ratio of 26.04. Live Oak Bancshares has a 1-year low of $17.50 and a 1-year high of $26.35.
In related news, Director Glen F. Hoffsis acquired 1,400 shares of Live Oak Bancshares stock in a transaction dated Friday, November 10th. The shares were purchased at an average price of $23.50 per share, for a total transaction of $32,900.00. Following the completion of the transaction, the director now directly owns 85,382 shares in the company, valued at approximately $2,006,477. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 30.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Live Oak Bancshares by 2.2% in the second quarter. Vanguard Group Inc. now owns 864,889 shares of the bank’s stock worth $20,930,000 after purchasing an additional 18,939 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Live Oak Bancshares by 159.9% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 602,548 shares of the bank’s stock worth $14,130,000 after buying an additional 370,698 shares during the period. Emerald Advisers Inc. PA purchased a new position in Live Oak Bancshares during the third quarter worth $9,573,000. Raymond James Financial Services Advisors Inc. purchased a new position in Live Oak Bancshares during the third quarter worth $8,443,000. Finally, State Street Corp boosted its stake in Live Oak Bancshares by 10.3% during the second quarter. State Street Corp now owns 354,407 shares of the bank’s stock worth $8,579,000 after buying an additional 33,082 shares during the period. Institutional investors own 40.98% of the company’s stock.
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About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).
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