Live Oak Bancshares (NASDAQ:LOB) Shares Gap Down to $39.87

Live Oak Bancshares, Inc. (NASDAQ:LOB) shares gapped down prior to trading on Thursday . The stock had previously closed at $39.87, but opened at $36.04. Live Oak Bancshares shares last traded at $35.00, with a volume of 84,586 shares traded.

Analyst Ratings Changes

LOB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Live Oak Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Truist Financial reissued a “buy” rating and issued a $47.00 target price on shares of Live Oak Bancshares in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.50.

Live Oak Bancshares Trading Down 14.0 %

The stock has a market cap of $1.53 billion, a P/E ratio of 20.90 and a beta of 1.60. The company’s 50 day moving average price is $39.36 and its two-hundred day moving average price is $37.39.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, January 24th. The bank reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). Live Oak Bancshares had a return on equity of 8.67% and a net margin of 9.24%. The firm had revenue of $119.68 million for the quarter, compared to the consensus estimate of $119.36 million. On average, sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 2.22 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, February 26th. Live Oak Bancshares’s payout ratio is 7.32%.

Insiders Place Their Bets

In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total transaction of $343,400.31. Following the completion of the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Micah S. Davis sold 8,613 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the transaction, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Miltom Emmett Petty sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the transaction, the director now directly owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The disclosure for this sale can be found here. 23.90% of the stock is owned by company insiders.

Institutional Trading of Live Oak Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Live Oak Bancshares during the third quarter worth about $420,000. Ballentine Partners LLC purchased a new stake in Live Oak Bancshares in the third quarter valued at approximately $210,000. Bank of New York Mellon Corp boosted its position in Live Oak Bancshares by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock valued at $5,708,000 after buying an additional 2,721 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Live Oak Bancshares by 48.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock valued at $177,000 after buying an additional 2,002 shares during the last quarter. Finally, Chatham Capital Group Inc. purchased a new stake in Live Oak Bancshares in the third quarter valued at approximately $1,162,000. 63.95% of the stock is currently owned by institutional investors.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.