Live Oak Bancshares (NASDAQ:LOB) Insider Sells $378,397.00 in Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) insider Courtney Spencer sold 9,700 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $39.01, for a total value of $378,397.00. Following the completion of the sale, the insider directly owned 25,160 shares in the company, valued at approximately $981,491.60. The trade was a 27.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Live Oak Bancshares Stock Performance

Shares of LOB traded down $0.45 during midday trading on Wednesday, hitting $38.30. 327,968 shares of the stock were exchanged, compared to its average volume of 385,917. Live Oak Bancshares, Inc. has a 52-week low of $22.68 and a 52-week high of $42.89. The stock has a fifty day simple moving average of $35.04 and a 200 day simple moving average of $34.53. The firm has a market cap of $1.76 billion, a P/E ratio of 26.41 and a beta of 2.02.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 5.41%.

Institutional Investors Weigh In On Live Oak Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in Live Oak Bancshares by 60.1% in the third quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock valued at $49,000 after purchasing an additional 512 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Live Oak Bancshares in the 3rd quarter valued at $63,000. Tower Research Capital LLC TRC grew its position in shares of Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank’s stock valued at $95,000 after buying an additional 1,850 shares during the last quarter. CWM LLC raised its stake in Live Oak Bancshares by 1,547.3% during the 2nd quarter. CWM LLC now owns 3,904 shares of the bank’s stock worth $116,000 after acquiring an additional 3,667 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Live Oak Bancshares by 111.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the bank’s stock valued at $184,000 after acquiring an additional 3,248 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler decreased their price objective on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Live Oak Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.