Live Oak Bancshares (NASDAQ:LOB) Reaches New 12-Month High – Here’s What Happened

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.22 and last traded at $42.26, with a volume of 1399 shares trading hands. The stock had previously closed at $39.00.

Analyst Ratings Changes

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

Live Oak Bancshares Stock Performance

The company has a market cap of $1.80 billion, a P/E ratio of 27.10 and a beta of 2.02. The stock’s fifty day moving average price is $34.68 and its two-hundred day moving average price is $34.41.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 5.41%.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director Tonya Williams Bradford bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were purchased at an average price of $30.24 per share, for a total transaction of $30,240.00. Following the completion of the transaction, the director directly owned 6,697 shares in the company, valued at approximately $202,517.28. The trade was a 17.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Gregory W. Seward sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $30.20, for a total value of $36,240.00. Following the transaction, the general counsel directly owned 106,126 shares of the company’s stock, valued at approximately $3,205,005.20. The trade was a 1.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC boosted its position in Live Oak Bancshares by 61.8% in the second quarter. Walleye Capital LLC now owns 90,117 shares of the bank’s stock valued at $2,685,000 after buying an additional 34,424 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Live Oak Bancshares by 24.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 181,269 shares of the bank’s stock valued at $5,402,000 after acquiring an additional 36,152 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of Live Oak Bancshares by 16.3% during the 2nd quarter. Motley Fool Asset Management LLC now owns 101,910 shares of the bank’s stock valued at $3,037,000 after acquiring an additional 14,270 shares in the last quarter. Squarepoint Ops LLC grew its position in Live Oak Bancshares by 53.6% during the 2nd quarter. Squarepoint Ops LLC now owns 153,078 shares of the bank’s stock worth $4,562,000 after acquiring an additional 53,427 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Live Oak Bancshares by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 817,181 shares of the bank’s stock worth $24,355,000 after acquiring an additional 22,230 shares during the last quarter. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Company Profile

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.