Live Oak Bancshares (NASDAQ:LOB) Trading Down 1.4% – Here’s What Happened

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) traded down 1.4% on Monday . The company traded as low as $35.72 and last traded at $36.1350. 255,245 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 316,215 shares. The stock had previously closed at $36.63.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LOB shares. National Bankshares set a $50.00 target price on Live Oak Bancshares in a report on Wednesday, September 24th. Cowen assumed coverage on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, Piper Sandler decreased their price objective 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 equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Live Oak Bancshares Price Performance

The company has a 50 day moving average of $33.58 and a two-hundred day moving average of $34.04. The company has a market capitalization of $1.66 billion, a PE ratio of 24.92 and a beta of 2.02.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Tuesday, December 2nd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 8.05%.

Insider Transactions at Live Oak Bancshares

In related news, General Counsel Gregory W. Seward sold 1,200 shares of Live Oak Bancshares stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $30.20, for a total transaction of $36,240.00. Following the completion of the transaction, the general counsel directly owned 106,126 shares of the company’s stock, valued at $3,205,005.20. This trade represents a 1.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tonya Williams Bradford acquired 1,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was acquired at an average price of $30.24 per share, for a total transaction of $30,240.00. Following the acquisition, the director owned 6,697 shares of the company’s stock, valued at approximately $202,517.28. This trade represents a 17.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Live Oak Bancshares by 60.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock valued at $49,000 after acquiring an additional 512 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Live Oak Bancshares in the 3rd quarter worth $63,000. Tower Research Capital LLC TRC raised its stake in shares of Live Oak Bancshares by 138.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank’s stock worth $95,000 after purchasing an additional 1,850 shares during the last quarter. CWM LLC lifted its holdings in shares of Live Oak Bancshares by 1,547.3% during the second quarter. CWM LLC now owns 3,904 shares of the bank’s stock valued at $116,000 after purchasing an additional 3,667 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Live Oak Bancshares by 111.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the bank’s stock valued at $184,000 after buying an additional 3,248 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

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.