The price objective that stock analysts at Truist Financial had set for Live Oak Bancshares’ (NASDAQ:LOB) shares dropped from $40.00 to $38.00 on Friday, as reported by The Fly. Prior to this, the price goal had been set at $40.00. According to the price target that was decided upon by Truist Financial, there is the potential for a gain that is 17.54 percent higher than the previous closing price of the company.
When it comes to LOB, the results of the work done by a number of other equity research analysts have also been made public. StockNews.com downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating on November 22. Previously, the company had been given a “hold” rating. Piper Jaffray lowered their target price on Live Oak Bancshares from $40.00 to $35.00 on September 28th, and they also assigned the company a “neutral” rating. The analysts who have provided their feedback on the stock have assigned the following recommendations to the company’s stock: four hold ratings, one buy rating, one sell rating, and three hold ratings. The rating for Live Oak Bancshares is a unanimous “Hold,” and the average price target is set at $42.25, according to data that was obtained from Bloomberg.com.
On Friday, the price of each share of NASDAQ LOB was set at its opening price of $32.33. During the course of the last year, the price of a share of Live Oak Bancshares has ranged from its all-time low of $28.28 to its all-time high of $92.73. This particular business has a price-to-earnings ratio of 7.12, a beta of 1.59, and a market capitalization of $1.42 billion. The company’s simple moving average for the last fifty days is $32.36 and for the last 200 days is $34.85.
On October 26, the most recent earnings report for Live Oak Bancshares (NASDAQ:LOB) was made accessible to the general public. For the quarter, the bank reported earnings of $0.96 per share (EPS), which was $0.51 more than the average prediction of $0.45 per share. The net margin for the company was 31.34%, while the return on equity for Live Oak Bancshares came in at 27.07%. The company reported a quarterly revenue of $141.61 million, which was significantly higher than the analysts’ expectations of $105.63 million, which the company was expected to report. During the course of the current fiscal year, it is anticipated that each share of Live Oak Bancshares will generate a profit of $4.28, as indicated by the estimates provided by sell-side analysts.
The percentages of the company’s stock that are owned by significant investors have undergone recent shifts as a result of recent transactions. San Luis Wealth Advisors LLC increased its holdings in Live Oak Bancshares by approximately $52,000 over the course of the first three months of the year, bringing the total amount invested to that point. Glassman Wealth Services increased its position in Live Oak Bancshares during the second quarter by purchasing additional shares at a price of approximately $51,000 per share. Guardian Wealth Advisors LLC made a new investment in Live Oak Bancshares during the third quarter of the fiscal year. The total value of this investment was approximately $46,000nificant investors have undergone recent shifts as a result of recent transactions. San Luis Wealth Advisors LLC increased its holdings in Live Oak Bancshares by approximately $52,000 over the course of the first three months of the year, bringing the total amount invested to that point. Glassman Wealth Services increased its position in Live Oak Bancshares during the second quarter by purchasing additional shares at a price of approximately $51,000 per share. Guardian Wealth Advisors LLC made a new investment in Live Oak Bancshares during the third quarter of the fiscal year. The total value of this investment was approximately $46,000. Allspring Global Investments Holdings LLC was successful in increasing the proportion of Live Oak Bancshares that it owned by 49.7% over the course of the third quarter. Allspring Global Investments Holdings LLC now has a total of 1,530 shares of the bank’s stock following the purchase of an additional 508 shares during the time period. Each share of the bank’s stock is currently valued at $46,000. Last but not least, during the third quarter, Whittier Trust Company increased the size of its portfolio by purchasing an additional stake in Live Oak Bancshares and investing an additional $50,000 in the company. At the moment, institutional investors are in control of 67.78% of the total shares of the company.
As a bank holding company, Live Oak Bancshares, Inc., which is the parent company of Live Oak Banking Company, is in charge of banking operations. Individuals, professionals, and professionals running small businesses can take advantage of the wide range of commercial banking products and services that this company provides in North Carolina, located in the United States of America. The business will take deposits that earn interest in other types of accounts besides demand deposits, including money markets, savings accounts, checking accounts, and time deposits. Demand deposits do not earn interest.
Read More: The price target for Live Oak Bancshares (NASDAQ:LOB) has been reduced to $38.00.