Live Oak Bancshares (NYSE:LOB) Director William Williams III Sells 1,810 Shares

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 1,810 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $40.00, for a total value of $72,400.00. Following the sale, the director owned 1,112,316 shares in the company, valued at approximately $44,492,640. The trade was a 0.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Up 0.3%

Shares of NYSE:LOB opened at $39.63 on Friday. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $44.53. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 13.95 and a beta of 1.86. The business has a 50-day moving average price of $41.64 and a 200-day moving average price of $38.30.

Live Oak Bancshares (NYSE:LOB) last issued its earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $156.15 million for the quarter. As a group, equities analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Live Oak Bancshares during the 2nd quarter valued at about $143,588,000. Vanguard Group Inc. boosted its position in Live Oak Bancshares by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company’s stock worth $92,835,000 after purchasing an additional 17,181 shares in the last quarter. California State Teachers Retirement System grew its holdings in Live Oak Bancshares by 4,962.5% in the second quarter. California State Teachers Retirement System now owns 1,668,641 shares of the company’s stock valued at $68,147,000 after purchasing an additional 1,635,680 shares during the period. Dimensional Fund Advisors LP grew its holdings in Live Oak Bancshares by 3.6% in the first 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 period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Live Oak Bancshares in the second quarter valued at approximately $55,546,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.