Live Oak Bancshares (NYSE:LOB) Director Tonya Williams Bradford Sells 1,600 Shares

Live Oak Bancshares, Inc. (NYSE:LOB) Director Tonya Bradford sold 1,600 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $39.89, for a total transaction of $63,824.00. Following the transaction, the director directly owned 8,043 shares in the company, valued at approximately $320,835.27. This represents a 16.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Live Oak Bancshares Stock Down 0.5%

Shares of LOB opened at $39.41 on Wednesday. Live Oak Bancshares, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $44.53. The company’s fifty day moving average is $41.55 and its two-hundred day moving average is $38.28. The firm has a market cap of $1.82 billion, a PE ratio of 13.88 and a beta of 1.86.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%.The business had revenue of $156.15 million during the quarter. As a group, equities research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Live Oak Bancshares’s dividend payout ratio is currently 4.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LOB. BlackRock Inc. purchased a new stake in shares of Live Oak Bancshares in the second quarter worth about $143,588,000. Vanguard Group Inc. lifted its position in Live Oak Bancshares by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company’s stock worth $92,835,000 after acquiring an additional 17,181 shares in the last quarter. California State Teachers Retirement System lifted its position in Live Oak Bancshares by 4,962.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,668,641 shares of the company’s stock worth $68,147,000 after acquiring an additional 1,635,680 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Live Oak Bancshares by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company’s stock worth $52,685,000 after acquiring an additional 54,750 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Live Oak Bancshares in the 2nd quarter worth approximately $55,546,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LOB shares. Weiss Ratings raised Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods increased their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Cantor Fitzgerald lifted their price target on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Zacks Research downgraded shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, TD Cowen increased their price objective on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Live Oak Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.40.

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.