Tonya Williams Bradford Sells 1,600 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director Tonya Bradford sold 1,600 shares of Live Oak Bancshares stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $39.89, for a total value of $63,824.00. Following the completion of the sale, the director directly owned 8,043 shares in the company, valued at $320,835.27. This trade represents a 16.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Live Oak Bancshares Trading Down 1.1%

Shares of Live Oak Bancshares stock opened at $38.91 on Thursday. The stock has a 50 day moving average of $41.49 and a 200 day moving average of $38.27. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $44.53. The firm has a market cap of $1.80 billion, a PE ratio of 13.70 and a beta of 1.86.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%.The business had revenue of $156.15 million during the quarter. As a group, equities research analysts forecast that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio (DPR) is 4.23%.

Institutional Trading of Live Oak Bancshares

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted 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 buying an additional 4,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Live Oak Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company’s stock valued at $549,000 after acquiring an additional 880 shares during the period. Millennium Management LLC lifted its holdings in shares of 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 acquiring an additional 596,841 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Live Oak Bancshares by 15.2% during the 1st 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 Live Oak Bancshares during the 1st quarter valued at about $1,758,000. 63.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LOB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Zacks Research cut shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. TD Cowen increased their price target on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Cantor Fitzgerald lifted their price target on Live Oak Bancshares from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.40.

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.