Analyst Steven Alexopoulos upgraded the stock to overweight from neutral, and maintained his price target of $40.
JPMorgan thinks it's time to buy shares of North Carolina-based regional bank Live Oak Bancshares . Analyst Steven Alexopoulos upgraded the stock to overweight from neutral and maintained his price target of $40. That implies 46.2% upside over the next twelve months. Shares of Live Oak Bancshares are down more than 15% over the past month. Year to date, they have lost 9.4%.
" The firm expects headwinds from a "liability sensitive" balance sheet to subside, while an "expense growth bubble" that started in 2022 deflates through year-end and beyond. Alexopoulos noted that Live Oak faced intense pressure on deposit costs from interest rate hikes due to its concentration of internet deposits, but that the bank is poised for net interest margin expansion as the Federal Reserve is expected to slow down its rate-hiking campaign.
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