Live Oak Bancshares (NYSE:LOB) Stock: Insider Gregory Seward Sells 5,000 Shares

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

Live Oak Bancshares Price Performance

Live Oak Bancshares stock traded down $0.15 during trading hours on Wednesday, reaching $34.59. The stock had a trading volume of 473,687 shares, compared to its average volume of 270,361. The stock has a market cap of $1.60 billion, a PE ratio of 12.31 and a beta of 1.94. Live Oak Bancshares, Inc. has a 52 week low of $29.36 and a 52 week high of $44.53. The company has a fifty day simple moving average of $37.58 and a 200-day simple moving average of $38.11.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings data 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). The firm had revenue of $175.65 million during the quarter, compared to analysts’ expectations of $167.50 million. Live Oak Bancshares had a net margin of 12.22% and a return on equity of 11.56%. Research analysts predict that Live Oak Bancshares, Inc. will post 2.92 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.27%.

Wall Street Analyst Weigh In

LOB has been the topic of a number of research analyst reports. Piper Sandler reduced their price target on Live Oak Bancshares from $46.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Keefe, Bruyette & Woods increased their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Cantor Fitzgerald cut their price objective on Live Oak Bancshares from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. TD Cowen reduced their target price on Live Oak Bancshares from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Zacks Research cut Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $41.75.

Institutional Investors Weigh In On Live Oak Bancshares

A number of large investors have recently modified their holdings of LOB. Benjamin Edwards Inc. increased its position in shares of Live Oak Bancshares by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 16,857 shares of the company’s stock valued at $688,000 after buying an additional 499 shares during the period. Sterling Capital Management LLC raised its stake in Live Oak Bancshares by 117.2% in the third quarter. Sterling Capital Management LLC now owns 949 shares of the company’s stock worth $34,000 after buying an additional 512 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Live Oak Bancshares during the 2nd quarter valued at approximately $36,000. Inspire Investing LLC boosted its position in 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 in the last quarter. Finally, Versant Capital Management Inc boosted its position in Live Oak Bancshares by 98.9% during the 3rd quarter. Versant Capital Management Inc now owns 2,080 shares of the company’s stock valued at $75,000 after acquiring an additional 1,034 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

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.