William Williams III Sells 8,400 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 8,400 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $43.08, for a total transaction of $361,872.00. Following the transaction, the director owned 1,114,126 shares in the company, valued at approximately $47,996,548.08. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Down 3.0%

LOB stock opened at $42.46 on Friday. The business’s 50-day simple moving average is $40.54 and its 200 day simple moving average is $38.13. Live Oak Bancshares, Inc. has a twelve month low of $29.36 and a twelve month high of $44.53. The company has a market cap of $1.96 billion, a PE ratio of 14.95 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings data 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 business had revenue of $156.15 million for the quarter. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%. On average, equities research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current year.

Live Oak Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler upped their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Cantor Fitzgerald increased their price target on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Zacks Research upgraded shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Oak Bancshares has a consensus rating of “Moderate Buy” and an average price target of $46.20.

Hedge Funds Weigh In On Live Oak Bancshares

Several institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Live Oak Bancshares during the second quarter worth about $36,000. Larson Financial Group LLC raised its stake in shares of Live Oak Bancshares by 157.4% in the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after acquiring an additional 905 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Live Oak Bancshares in the fourth quarter valued at approximately $55,000. Blue Trust Inc. boosted its holdings in shares of Live Oak Bancshares by 671.6% in the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock worth $70,000 after acquiring an additional 1,847 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings 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 company’s stock worth $95,000 after acquiring an additional 1,850 shares in the last quarter. 63.95% of the stock is owned by institutional investors.

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.