Insider Selling: Live Oak Bancshares (NASDAQ:LOB) General Counsel Sells 1,200 Shares of Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) General Counsel Gregory Seward sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $30.20, for a total value of $36,240.00. Following the completion of the sale, the general counsel directly owned 106,126 shares of the company’s stock, valued at $3,205,005.20. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Live Oak Bancshares Stock Performance

Shares of NASDAQ LOB traded down $0.44 during midday trading on Thursday, hitting $29.40. 322,466 shares of the stock traded hands, compared to its average volume of 288,003. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.16. The business has a 50 day moving average price of $33.90 and a two-hundred day moving average price of $32.28. The company has a market cap of $1.34 billion, a PE ratio of 20.27 and a beta of 1.98.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 8.05%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LOB. Cantor Fitzgerald assumed coverage on shares of Live Oak Bancshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $42.00 target price on the stock. Piper Sandler lowered their price objective on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. National Bankshares set a $50.00 target price on Live Oak Bancshares in a report on Wednesday, September 24th. Cowen initiated coverage on Live Oak Bancshares in a report on Wednesday, September 24th. They set a “buy” rating for the company. Finally, Keefe, Bruyette & Woods raised Live Oak Bancshares from a “market perform” rating to an “outperform” rating and increased their price target for the company from $37.00 to $43.00 in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Hedge Funds Weigh In On Live Oak Bancshares

Several institutional investors have recently modified their holdings of the business. Jump Financial LLC purchased a new stake in Live Oak Bancshares in the 1st quarter worth about $817,000. Envestnet Asset Management Inc. lifted its holdings in Live Oak Bancshares by 16.4% during the first quarter. Envestnet Asset Management Inc. now owns 145,117 shares of the bank’s stock valued at $3,869,000 after purchasing an additional 20,430 shares during the last quarter. CenterBook Partners LP boosted its position in Live Oak Bancshares by 49.2% during the first quarter. CenterBook Partners LP now owns 173,565 shares of the bank’s stock worth $4,627,000 after purchasing an additional 57,217 shares during the period. Motley Fool Wealth Management LLC increased its stake in shares of Live Oak Bancshares by 80.5% in the first quarter. Motley Fool Wealth Management LLC now owns 263,859 shares of the bank’s stock worth $7,034,000 after purchasing an additional 117,674 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Live Oak Bancshares by 44.0% in the first quarter. Deutsche Bank AG now owns 123,840 shares of the bank’s stock valued at $3,302,000 after purchasing an additional 37,823 shares during the period. 63.95% of the stock is owned by institutional investors.

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.