William Williams III Sells 8,400 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 8,400 shares of Live Oak Bancshares stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $40.05, for a total value of $336,420.00. Following the completion of the transaction, the director owned 1,130,926 shares in the company, valued at $45,293,586.30. The trade was a 0.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Trading Up 1.9%

NYSE:LOB traded up $0.76 on Thursday, hitting $41.06. 362,331 shares of the stock were exchanged, compared to its average volume of 290,640. The stock has a market cap of $1.90 billion, a PE ratio of 15.73 and a beta of 1.89. The stock has a fifty day moving average of $37.51 and a 200-day moving average of $36.72. Live Oak Bancshares, Inc. has a fifty-two week low of $29.26 and a fifty-two week high of $42.89.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. Live Oak Bancshares had a return on equity of 11.18% and a net margin of 11.79%.The business had revenue of $145.47 million for the quarter, compared to analyst estimates of $146.02 million. As a group, analysts predict that Live Oak Bancshares, Inc. will post 2.95 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. Live Oak Bancshares’s payout ratio is 4.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LOB shares. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Keefe, Bruyette & Woods reduced their target price on shares of Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. TD Cowen lowered their price target on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Piper Sandler raised their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and a consensus price target of $44.40.

Institutional Trading of Live Oak Bancshares

A number of hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Live Oak Bancshares by 157.4% during the 4th quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after purchasing an additional 905 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in Live Oak Bancshares in the 4th quarter worth $55,000. Blue Trust Inc. boosted its position in Live Oak Bancshares by 671.6% in the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock valued at $70,000 after buying an additional 1,847 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock valued at $95,000 after buying an additional 1,850 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Live Oak Bancshares by 15.0% during the fourth quarter. CWM LLC now owns 4,926 shares of the company’s stock valued at $169,000 after acquiring an additional 642 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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.