Insider Selling: Live Oak Bancshares (NYSE:LOB) Director Sells $126,390.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director David Lucht sold 3,000 shares of Live Oak Bancshares stock in a transaction on Monday, July 27th. The shares were sold at an average price of $42.13, for a total value of $126,390.00. Following the transaction, the director owned 15,623 shares in the company, valued at $658,196.99. This represents a 16.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock traded down $0.31 during mid-day trading on Wednesday, hitting $42.61. The company’s stock had a trading volume of 236,419 shares, compared to its average volume of 288,420. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $43.85. The company has a market cap of $1.97 billion, a PE ratio of 15.00 and a beta of 1.88. The firm’s 50 day moving average is $39.75 and its 200 day moving average is $37.82.

Live Oak Bancshares (NYSE:LOB) last issued its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $156.15 million for the quarter. Live Oak Bancshares had a return on equity of 11.95% and a net margin of 12.68%. As a group, analysts forecast that Live Oak Bancshares, Inc. will post 3.05 EPS for the current year.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, June 2nd. Live Oak Bancshares’s dividend payout ratio is currently 4.23%.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently modified their holdings of LOB. William Blair Investment Management LLC acquired a new position in Live Oak Bancshares during the fourth quarter worth $22,278,000. NewEdge Wealth LLC bought a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $43,261,000. UBS Group AG raised its stake in shares of Live Oak Bancshares by 29.4% in the 4th quarter. UBS Group AG now owns 160,710 shares of the company’s stock valued at $5,520,000 after acquiring an additional 36,525 shares in the last quarter. Royce & Associates LP bought a new position in shares of Live Oak Bancshares in the 4th quarter valued at approximately $8,496,000. Finally, Sovran Advisors LLC acquired a new stake in Live Oak Bancshares in the 4th quarter worth approximately $1,134,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LOB shares. Cantor Fitzgerald boosted their price target on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Piper Sandler upped their target price on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, TD Cowen raised their price target on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Live Oak Bancshares has an average rating of “Moderate Buy” and an average price target of $46.20.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.