Live Oak Bancshares (NYSE:LOB) Director William Williams III Sells 6,590 Shares of Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 6,590 shares of Live Oak Bancshares stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $40.09, for a total transaction of $264,193.10. Following the completion of the transaction, the director directly owned 1,105,726 shares in the company, valued at approximately $44,328,555.34. This trade represents a 0.59% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Performance

Shares of NYSE:LOB opened at $39.41 on Wednesday. The company has a market cap of $1.82 billion, a PE ratio of 13.88 and a beta of 1.86. Live Oak Bancshares, Inc. has a 52 week low of $29.36 and a 52 week high of $44.53. The firm has a 50 day simple moving average of $41.55 and a 200 day simple moving average of $38.28.

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 net margin of 12.68% and a return on equity of 11.77%. The firm had revenue of $156.15 million for the quarter. On average, equities analysts predict that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio (DPR) is 4.23%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Live Oak Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Live Oak Bancshares during the 2nd quarter worth about $36,000. Larson Financial Group LLC grew its stake in shares of Live Oak Bancshares by 157.4% in the 4th quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after buying an additional 905 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Live Oak Bancshares by 671.6% in 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 in the last quarter. Tower Research Capital LLC TRC increased its holdings in Live Oak Bancshares by 138.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock worth $95,000 after buying an additional 1,850 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in Live Oak Bancshares during the second quarter valued at approximately $128,000. 63.95% of the stock is currently owned by hedge funds and other 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.