Live Oak Bancshares (NYSE:LOB) Director David Lucht Sells 2,000 Shares of Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director David Lucht sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total value of $88,720.00. Following the completion of the sale, the director directly owned 13,623 shares in the company, valued at $604,316.28. This trade represents a 12.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Live Oak Bancshares Price Performance

Shares of NYSE:LOB opened at $43.76 on Thursday. Live Oak Bancshares, Inc. has a 1-year low of $29.36 and a 1-year high of $44.53. The business has a fifty day moving average price of $40.44 and a 200-day moving average price of $38.09. The company has a market capitalization of $2.02 billion, a PE ratio of 15.41 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. The company had revenue of $156.15 million for the quarter. On average, sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 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, June 2nd. Live Oak Bancshares’s dividend payout ratio is currently 4.23%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings raised Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Cantor Fitzgerald increased their target price on Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. TD Cowen lifted their target price on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.20.

Institutional Trading of Live Oak Bancshares

A number of large investors have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its position in Live Oak Bancshares by 157.4% during the fourth 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 during the period. Laurel Wealth Advisors LLC bought a new stake in Live Oak Bancshares in the 4th quarter worth approximately $55,000. Blue Trust Inc. raised its stake in Live Oak Bancshares by 671.6% during 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 raised its stake in Live Oak Bancshares by 138.9% during 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 lifted its holdings in shares of Live Oak Bancshares by 15.0% during the 4th quarter. CWM LLC now owns 4,926 shares of the company’s stock valued at $169,000 after buying an additional 642 shares during the period. 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.