Live Oak Bancshares (NASDAQ:LOB) Insider Courtney Spencer Sells 9,700 Shares

Live Oak Bancshares, Inc. (NASDAQ:LOB) insider Courtney Spencer sold 9,700 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $39.01, for a total value of $378,397.00. Following the sale, the insider owned 25,160 shares in the company, valued at approximately $981,491.60. The trade was a 27.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Live Oak Bancshares Stock Down 1.2%

Live Oak Bancshares stock opened at $38.30 on Thursday. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $42.89. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 26.41 and a beta of 2.02. The stock has a 50-day moving average price of $35.21 and a 200 day moving average price of $34.56.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, December 2nd. Live Oak Bancshares’s payout ratio is presently 5.41%.

Institutional Investors Weigh In On Live Oak Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the bank’s stock valued at $18,339,000 after purchasing an additional 596,841 shares during the period. Ameriprise Financial Inc. increased its holdings in Live Oak Bancshares by 366.9% in the third quarter. Ameriprise Financial Inc. now owns 519,957 shares of the bank’s stock valued at $18,313,000 after buying an additional 408,591 shares in the last quarter. Jane Street Group LLC raised its position in shares of Live Oak Bancshares by 1,263.2% in the first quarter. Jane Street Group LLC now owns 201,816 shares of the bank’s stock worth $5,380,000 after acquiring an additional 187,011 shares during the period. CenterBook Partners LP raised its position in shares of Live Oak Bancshares by 105.4% in the second quarter. CenterBook Partners LP now owns 356,416 shares of the bank’s stock worth $10,621,000 after acquiring an additional 182,851 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Live Oak Bancshares by 937,663.2% during the 3rd quarter. Whittier Trust Co. now owns 178,175 shares of the bank’s stock worth $6,184,000 after acquiring an additional 178,156 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their target price on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.