Insider Selling: Live Oak Bancshares (NASDAQ:LOB) CFO Sells 4,712 Shares of Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) CFO Walter Phifer sold 4,712 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $36.58, for a total transaction of $172,364.96. Following the completion of the transaction, the chief financial officer directly owned 10,103 shares in the company, valued at $369,567.74. This trade represents a 31.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Live Oak Bancshares Stock Performance

LOB traded up $0.15 during mid-day trading on Wednesday, reaching $36.60. 266,835 shares of the stock were exchanged, compared to its average volume of 347,839. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $42.89. The company has a 50 day moving average price of $38.22 and a two-hundred day moving average price of $35.85. The stock has a market capitalization of $1.68 billion, a PE ratio of 25.24 and a beta of 2.00.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.3%. Live Oak Bancshares’s payout ratio is currently 5.41%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen lowered their target price on Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.20.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LOB. NewEdge Wealth LLC purchased a new stake in Live Oak Bancshares in the fourth quarter worth approximately $43,261,000. William Blair Investment Management LLC bought a new position in shares of Live Oak Bancshares during the 4th quarter valued at $22,278,000. Millennium Management LLC boosted its stake in shares of Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the bank’s stock worth $18,339,000 after buying an additional 596,841 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Live Oak Bancshares in the 4th quarter worth $19,181,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Live Oak Bancshares by 366.9% in the third quarter. Ameriprise Financial Inc. now owns 519,957 shares of the bank’s stock worth $18,313,000 after acquiring an additional 408,591 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

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.