Live Oak Bancshares (NYSE:LOB) General Counsel Sells $176,550.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) General Counsel Gregory Seward sold 5,000 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $35.31, for a total value of $176,550.00. Following the transaction, the general counsel owned 108,797 shares of the company’s stock, valued at approximately $3,841,622.07. The trade was a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Down 1.9%

NYSE:LOB opened at $34.41 on Friday. The business’s 50-day moving average price is $37.17 and its two-hundred day moving average price is $38.08. Live Oak Bancshares, Inc. has a twelve month low of $29.36 and a twelve month high of $44.53. The stock has a market cap of $1.59 billion, a P/E ratio of 12.25 and a beta of 1.94.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). Live Oak Bancshares had a net margin of 12.22% and a return on equity of 11.56%. The business had revenue of $175.65 million for the quarter, compared to the consensus estimate of $167.50 million. On average, equities research analysts expect that Live Oak Bancshares, Inc. will post 2.78 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 4.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research cut shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. TD Cowen lowered their price objective on shares of Live Oak Bancshares from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Cantor Fitzgerald dropped their price objective on shares of Live Oak Bancshares from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin Edwards Inc. raised its stake in shares of Live Oak Bancshares by 3.1% in the second quarter. Benjamin Edwards Inc. now owns 16,857 shares of the company’s stock worth $688,000 after purchasing an additional 499 shares during the last quarter. Sterling Capital Management LLC raised its position in Live Oak Bancshares by 117.2% in the 3rd quarter. Sterling Capital Management LLC now owns 949 shares of the company’s stock worth $34,000 after buying an additional 512 shares during the last quarter. Aviance Capital Partners LLC lifted its stake in Live Oak Bancshares by 4.4% during the 3rd quarter. Aviance Capital Partners LLC now owns 15,142 shares of the company’s stock valued at $548,000 after acquiring an additional 632 shares during the period. Global Retirement Partners LLC bought a new position in Live Oak Bancshares during the 2nd quarter valued at about $36,000. Finally, Inspire Investing LLC boosted its holdings in shares of Live Oak Bancshares by 5.6% during the 3rd quarter. Inspire Investing LLC now owns 17,488 shares of the company’s stock valued at $633,000 after acquiring an additional 927 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.

About Live Oak Bancshares

Live Oak Bancshares, Inc is the parent company of Live Oak Bank, a digital-focused financial institution headquartered in Wilmington, North Carolina. Founded in 2008, the company specializes in providing banking services to small and mid-sized businesses, with a particular emphasis on loans to owners of professional and industry-specific businesses.

Through Live Oak Bank, the company offers commercial lending, Small Business Administration (SBA) loans, business deposits, treasury management and other financial services.