David Lucht Sells 3,000 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director David Lucht sold 3,000 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $42.13, for a total transaction of $126,390.00. Following the completion of the sale, the director owned 15,623 shares of the company’s stock, valued at approximately $658,196.99. This represents a 16.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock opened at $42.41 on Friday. Live Oak Bancshares, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $43.85. The firm’s 50-day simple moving average is $39.96 and its 200 day simple moving average is $37.89. The stock has a market cap of $1.96 billion, a PE ratio of 14.93 and a beta of 1.88.

Live Oak Bancshares (NYSE:LOB) last posted its earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. The firm had revenue of $156.15 million for the quarter. As a group, analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, June 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is 4.23%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods lifted their target price on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. TD Cowen boosted their price target on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler raised their price objective on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Cantor Fitzgerald boosted their target price on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Moderate Buy” and an average target price of $46.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Live Oak Bancshares by 28.7% in the 1st quarter. Royal Bank of Canada now owns 18,592 shares of the company’s stock valued at $495,000 after acquiring an additional 4,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Live Oak Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company’s stock worth $549,000 after purchasing an additional 880 shares during the period. Millennium Management LLC increased its stake in shares of Live Oak Bancshares by 655.6% in the first quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock worth $18,339,000 after purchasing an additional 596,841 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Live Oak Bancshares by 15.2% in the first quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the company’s stock worth $7,041,000 after purchasing an additional 34,849 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Live Oak Bancshares in the first quarter valued at approximately $1,758,000. Institutional investors own 63.95% of the company’s stock.

About Live Oak Bancshares

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.