Walter Phifer Sells 4,712 Shares of Live Oak Bancshares (NASDAQ:LOB) Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) CFO Walter Phifer sold 4,712 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $36.58, for a total value of $172,364.96. Following the completion of the transaction, the chief financial officer owned 10,103 shares in the company, valued at approximately $369,567.74. This trade represents a 31.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $35.68 on Friday. The business has a fifty day moving average price of $38.23 and a 200 day moving average price of $35.86. The company has a market cap of $1.64 billion, a P/E ratio of 24.61 and a beta of 1.97. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $42.89.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Thursday, March 5th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 5th. Live Oak Bancshares’s dividend payout ratio is currently 5.41%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen lowered their target price on Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Live Oak Bancshares presently has an average rating of “Moderate Buy” and an average price target of $44.20.

Institutional Investors Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of LOB. Vanguard Group Inc. raised its stake in Live Oak Bancshares by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,702,627 shares of the bank’s stock worth $92,835,000 after purchasing an additional 17,181 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Live Oak Bancshares by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,545,210 shares of the bank’s stock valued at $54,424,000 after buying an additional 5,046 shares during the period. State Street Corp lifted its holdings in Live Oak Bancshares by 5.1% in the fourth quarter. State Street Corp now owns 1,308,462 shares of the bank’s stock valued at $44,946,000 after acquiring an additional 63,325 shares during the last quarter. NewEdge Wealth LLC acquired a new position in Live Oak Bancshares in the fourth quarter valued at approximately $43,261,000. Finally, Southernsun Asset Management LLC grew its position in Live Oak Bancshares by 15.1% in the fourth quarter. Southernsun Asset Management LLC now owns 1,029,108 shares of the bank’s stock worth $35,350,000 after acquiring an additional 134,798 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

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.