Insider Selling: Live Oak Bancshares (NYSE:LOB) Director Sells $349,524.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 8,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $41.61, for a total transaction of $349,524.00. Following the completion of the sale, the director directly owned 1,122,526 shares of the company’s stock, valued at approximately $46,708,306.86. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Price Performance

LOB traded up $0.71 during trading on Monday, reaching $41.76. 194,496 shares of the stock traded hands, compared to its average volume of 295,950. Live Oak Bancshares, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $42.89. The stock’s 50-day simple moving average is $38.14 and its two-hundred day simple moving average is $37.07. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 16.00 and a beta of 1.88.

Live Oak Bancshares (NYSE:LOB) last issued its earnings results on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.18%. The company had revenue of $145.47 million for the quarter, compared to the consensus estimate of $146.02 million. Research analysts anticipate that Live Oak Bancshares, Inc. will post 2.95 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. Live Oak Bancshares’s payout ratio is currently 4.60%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LOB. Weiss Ratings raised Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Piper Sandler boosted their price target on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. TD Cowen dropped their target price on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Zacks Research raised Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods decreased their price target on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.40.

Hedge Funds Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Wealth LLC purchased a new position in shares of Live Oak Bancshares in the fourth quarter worth about $43,261,000. William Blair Investment Management LLC bought a new position in Live Oak Bancshares during the 4th quarter valued at approximately $22,278,000. Millennium Management LLC lifted its holdings in Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock worth $18,339,000 after buying an additional 596,841 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of Live Oak Bancshares during the fourth quarter valued at approximately $19,181,000. Finally, Ameriprise Financial Inc. lifted its stake in Live Oak Bancshares by 366.9% in the third quarter. Ameriprise Financial Inc. now owns 519,957 shares of the company’s stock worth $18,313,000 after acquiring an additional 408,591 shares during the period. 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.