Live Oak Bancshares (NYSE:LOB) Director David Lucht Sells 3,000 Shares

Live Oak Bancshares, Inc. (NYSE:LOB) Director David Lucht sold 3,000 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $42.13, for a total value of $126,390.00. Following the transaction, the director owned 15,623 shares in the company, valued at $658,196.99. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Live Oak Bancshares Stock Down 0.7%

Shares of LOB stock opened at $42.61 on Thursday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 15.00 and a beta of 1.88. Live Oak Bancshares, Inc. has a 52 week low of $29.36 and a 52 week high of $43.85. The firm has a 50 day moving average of $39.86 and a 200-day moving average of $37.85.

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

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio is currently 4.23%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. TD Cowen upped their price target on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Keefe, Bruyette & Woods raised their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Piper Sandler boosted their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.20.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Live Oak Bancshares by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company’s stock valued at $92,835,000 after acquiring an additional 17,181 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Live Oak Bancshares by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company’s stock valued at $52,685,000 after purchasing an additional 54,750 shares during the last quarter. State Street Corp increased its holdings in Live Oak Bancshares by 5.1% during the 4th quarter. State Street Corp now owns 1,308,462 shares of the company’s stock worth $44,946,000 after purchasing an additional 63,325 shares in the last quarter. NewEdge Wealth LLC bought a new stake in Live Oak Bancshares during the 4th quarter worth approximately $43,261,000. Finally, Southernsun Asset Management LLC raised its stake in shares of Live Oak Bancshares by 0.4% in the first quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company’s stock worth $34,179,000 after purchasing an additional 4,431 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

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.