Live Oak Bancshares, Inc. (LOB) Director Acquires $46,140.00 in Stock
Live Oak Bancshares, Inc. (NASDAQ:LOB) Director Diane Beth Glossman purchased 2,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $23.07 per share, for a total transaction of $46,140.00. Following the purchase, the director now owns 26,892 shares in the company, valued at $620,398.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Live Oak Bancshares, Inc. (NASDAQ LOB) traded down 1.75% during mid-day trading on Friday, hitting $22.50. 62,747 shares of the stock traded hands. The company has a market cap of $779.94 million, a P/E ratio of 32.51 and a beta of -0.15. Live Oak Bancshares, Inc. has a 12 month low of $13.37 and a 12 month high of $26.05. The firm has a 50 day moving average of $24.43 and a 200 day moving average of $23.45.
Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, July 26th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Live Oak Bancshares had a net margin of 13.71% and a return on equity of 11.50%. The business had revenue of $45.06 million for the quarter, compared to analyst estimates of $45.92 million. Equities analysts anticipate that Live Oak Bancshares, Inc. will post $0.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a $0.03 dividend. This is a positive change from Live Oak Bancshares’s previous quarterly dividend of $0.02. The ex-dividend date is Thursday, August 17th. This represents a $0.12 annualized dividend and a dividend yield of 0.52%. Live Oak Bancshares’s dividend payout ratio (DPR) is 11.43%.
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Several brokerages have commented on LOB. Zacks Investment Research cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet upgraded shares of Live Oak Bancshares from a “c” rating to a “b-” rating in a research note on Monday, July 24th.
Several hedge funds have recently made changes to their positions in LOB. US Bancorp DE increased its position in Live Oak Bancshares by 77.5% in the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock valued at $100,000 after buying an additional 2,014 shares in the last quarter. Bank of America Corp DE increased its position in Live Oak Bancshares by 3.5% in the first quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock valued at $118,000 after buying an additional 185 shares in the last quarter. California Public Employees Retirement System acquired a new position in Live Oak Bancshares during the first quarter valued at $223,000. Profit Investment Management LLC acquired a new position in Live Oak Bancshares during the second quarter valued at $226,000. Finally, Credit Suisse AG increased its position in Live Oak Bancshares by 2.0% in the first quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock valued at $231,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 36.10% of the company’s stock.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).
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