Live Oak Bancshares (NASDAQ:LOB) Shares Gap Down to $39.87

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $39.87, but opened at $36.04. Live Oak Bancshares shares last traded at $35.00, with a volume of 84,586 shares traded.

Wall Street Analysts Forecast Growth

LOB has been the topic of a number of analyst reports. StockNews.com cut Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. TheStreet cut Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods lifted their price objective on Live Oak Bancshares from $43.00 to $45.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $47.00 price objective on shares of Live Oak Bancshares in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.50.

Live Oak Bancshares Trading Down 14.0 %

The stock has a 50 day simple moving average of $39.36 and a 200-day simple moving average of $37.39. The firm has a market cap of $1.53 billion, a P/E ratio of 20.90 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). Live Oak Bancshares had a return on equity of 8.67% and a net margin of 9.24%. The firm had revenue of $119.68 million during the quarter, compared to the consensus estimate of $119.36 million. As a group, equities analysts forecast that Live Oak Bancshares, Inc. will post 2.22 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s payout ratio is 7.32%.

Insider Buying and Selling

In related news, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the transaction, the insider now directly owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Micah S. Davis sold 8,613 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total value of $343,400.31. Following the transaction, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the completion of the transaction, the director now directly owns 121,941 shares in the company, valued at $4,844,715.93. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by company insiders.

Institutional Trading of Live Oak Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of LOB. Parsons Capital Management Inc. RI boosted its position in Live Oak Bancshares by 4.5% during the first quarter. Parsons Capital Management Inc. RI now owns 13,800 shares of the bank’s stock worth $573,000 after purchasing an additional 600 shares in the last quarter. Chatham Capital Group Inc. boosted its position in Live Oak Bancshares by 13.3% during the first quarter. Chatham Capital Group Inc. now owns 43,080 shares of the bank’s stock worth $1,788,000 after purchasing an additional 5,045 shares in the last quarter. Toth Financial Advisory Corp lifted its position in shares of Live Oak Bancshares by 10.7% in the first quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock valued at $138,000 after acquiring an additional 320 shares in the last quarter. Independence Bank of Kentucky purchased a new position in shares of Live Oak Bancshares in the first quarter valued at approximately $44,000. Finally, Riverview Trust Co purchased a new position in shares of Live Oak Bancshares in the first quarter valued at approximately $28,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.