Live Oak Bancshares (NYSE:LOB) Insider Sells $256,688.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) insider Mark Michael Moroz sold 6,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total transaction of $256,688.00. Following the transaction, the insider directly owned 12,110 shares of the company’s stock, valued at $509,588.80. This trade represents a 33.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Live Oak Bancshares Stock Up 0.8%

Shares of LOB opened at $42.80 on Friday. The firm has a market cap of $1.98 billion, a PE ratio of 15.07 and a beta of 1.88. The company’s fifty day moving average is $40.07 and its two-hundred day moving average is $37.93. Live Oak Bancshares, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $43.85.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The business had revenue of $156.15 million during the quarter. Live Oak Bancshares had a return on equity of 11.95% and a net margin of 12.68%. As a group, equities research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were given 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 of this dividend was Tuesday, June 2nd. Live Oak Bancshares’s payout ratio is 4.23%.

Wall Street Analyst Weigh In

LOB has been the topic of a number of research reports. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. TD Cowen boosted their target price on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Monday. Keefe, Bruyette & Woods increased their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Piper Sandler raised their price target on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Cantor Fitzgerald lifted their price target on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. One equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Live Oak Bancshares by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company’s stock worth $92,835,000 after purchasing an additional 17,181 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Live Oak Bancshares by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company’s stock valued at $52,685,000 after buying an additional 54,750 shares in the last quarter. State Street Corp grew its stake in shares of Live Oak Bancshares by 5.1% in the fourth quarter. State Street Corp now owns 1,308,462 shares of the company’s stock valued at $44,946,000 after buying an additional 63,325 shares in the last quarter. NewEdge Wealth LLC purchased a new stake in shares of Live Oak Bancshares during the 4th quarter valued at about $43,261,000. Finally, Southernsun Asset Management LLC raised its holdings in shares of Live Oak Bancshares by 0.4% during the 1st quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company’s stock valued at $34,179,000 after buying an additional 4,431 shares during the period. 63.95% of the stock is 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.