Insider Selling: Live Oak Bancshares (NYSE:LOB) Insider Sells $2,837,250.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) insider Renato Derraik sold 75,000 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the transaction, the insider directly owned 4,243 shares in the company, valued at approximately $160,512.69. The trade was a 94.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Live Oak Bancshares Trading Up 0.8%

LOB opened at $37.84 on Thursday. Live Oak Bancshares, Inc. has a twelve month low of $25.53 and a twelve month high of $42.89. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 14.50 and a beta of 1.92. The company has a fifty day simple moving average of $35.16 and a 200 day simple moving average of $35.35.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $145.47 million for the quarter, compared to analyst estimates of $146.02 million. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.36%. On average, analysts forecast 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 Sunday, March 15th. Shareholders of record on Thursday, March 5th were paid 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 Thursday, March 5th. Live Oak Bancshares’s dividend payout ratio (DPR) is 4.60%.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Live Oak Bancshares by 28.7% during the first quarter. Royal Bank of Canada now owns 18,592 shares of the company’s stock worth $495,000 after purchasing an additional 4,146 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $549,000 after purchasing an additional 880 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Live Oak Bancshares by 655.6% during 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 during the period. Goldman Sachs Group Inc. raised its holdings in shares of Live Oak Bancshares by 15.2% during 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 during the period. Finally, Empowered Funds LLC bought a new position in shares of Live Oak Bancshares in the 1st quarter worth about $1,758,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Cowen cut their target price on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Keefe, Bruyette & Woods dropped their price target on shares of Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. Piper Sandler upped 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. Weiss Ratings upgraded shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, April 21st. Finally, Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.40.

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.