Live Oak Bancshares (NASDAQ:LOB) Shares Gap Down to $39.87

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $39.87, but opened at $36.04. Live Oak Bancshares shares last traded at $35.00, with a volume of 84,586 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LOB shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price objective (down previously from $45.00) on shares of Live Oak Bancshares in a report on Friday. Truist Financial lowered their target price on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Friday. Finally, TheStreet cut Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Oak Bancshares has a consensus rating of “Hold” and an average price target of $38.00.

Live Oak Bancshares Trading Down 3.2 %

The firm has a market capitalization of $1.49 billion, a PE ratio of 17.23 and a beta of 1.60. The company has a fifty day moving average price of $39.24 and a two-hundred day moving average price of $37.36.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, January 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.20). Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.45%. The firm had revenue of $119.68 million during the quarter, compared to analysts’ expectations of $119.36 million. As a group, equities research analysts predict that Live Oak Bancshares, Inc. will post 2.22 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s payout ratio is currently 6.03%.

Insider Activity

In other news, insider Micah S. Davis sold 8,613 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.

Institutional Trading of Live Oak Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOB. Trust Co of the South purchased a new stake in Live Oak Bancshares during the 4th quarter valued at approximately $15,042,000. Norges Bank purchased a new position in shares of Live Oak Bancshares during the 4th quarter worth approximately $7,474,000. Mendon Capital Advisors Corp purchased a new position in shares of Live Oak Bancshares during the 4th quarter worth approximately $4,550,000. Homestead Advisers Corp raised its stake in shares of Live Oak Bancshares by 103.6% during the 4th quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock worth $5,596,000 after buying an additional 62,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Live Oak Bancshares by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock worth $60,415,000 after buying an additional 61,029 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.