Live Oak Bancshares (NYSE:LOB) Director Sells $126,390.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director David Lucht sold 3,000 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $42.13, for a total transaction of $126,390.00. Following the sale, the director owned 15,623 shares of the company’s stock, valued at $658,196.99. This trade represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Live Oak Bancshares Stock Performance

Shares of NYSE:LOB opened at $42.80 on Friday. The stock’s 50-day moving average is $40.07 and its 200-day moving average is $37.93. The company has a market cap of $1.98 billion, a P/E ratio of 15.07 and a beta of 1.88. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $43.85.

Live Oak Bancshares (NYSE:LOB) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.95% and a net margin of 12.68%.The business had revenue of $156.15 million during the quarter. As a group, equities analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS 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 $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. Live Oak Bancshares’s payout ratio is currently 4.23%.

Analyst Ratings Changes

Several research firms have recently weighed in on LOB. Cantor Fitzgerald increased their price objective on Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Piper Sandler boosted their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods upped their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, TD Cowen increased their price target on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.20.

Hedge Funds Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Wealth LLC acquired a new position in Live Oak Bancshares in the 4th quarter valued at approximately $43,261,000. William Blair Investment Management LLC bought a new stake in shares of Live Oak Bancshares in the 4th quarter worth approximately $22,278,000. Millennium Management LLC grew its holdings in shares of Live Oak Bancshares by 655.6% during the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock worth $18,339,000 after purchasing an additional 596,841 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Live Oak Bancshares during the 4th quarter worth approximately $19,181,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Live Oak Bancshares by 366.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 519,957 shares of the company’s stock worth $18,313,000 after purchasing an additional 408,591 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors.

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.