Live Oak Bancshares price target raised to $51 from $38 at Truist

Truist raised the firm’s price target on Live Oak Bancshares to $51 from $38 and keeps a Buy rating on the shares as part of a broader research note recapping Q2 earnings for Community and Regional Banks. The firm’s revisions primarily reflect higher fees and lower expense, offset partially by lower net interest margin, the analyst tells investors in a research note. Truist adds that the bank’s expense control was also impressive and continues to drive Live Oak’s strong pre-provision net revenue trajectory over the next few years.