Live Oak Bancshares price target lowered to $47 from $50 at Truist

Truist analyst Brandon King lowered the firm’s price target on Live Oak Bancshares to $47 from $50 but keeps a Buy rating on the shares as part of a broader research note recapping Q4 results in Community and Regional Banks. The firm’s revisions reflect lower net interest margins and higher tax rate offset partially by higher gain on sale income, the analyst tells investors in a research note. Truist adds however that Live Oak Bancshares stock remains attractive at 13.2-times its expected forward earnings given the company’s growth trajectory, product innovation, and improving deposit base potential.