Live Oak Bancshares (NYSE:LOB) Director Sells $63,824.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director Tonya Bradford sold 1,600 shares of Live Oak Bancshares stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $39.89, for a total value of $63,824.00. Following the sale, the director directly owned 8,043 shares of the company’s stock, valued at approximately $320,835.27. This trade represents a 16.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Live Oak Bancshares Trading Down 0.5%

Shares of NYSE:LOB traded down $0.20 on Tuesday, reaching $39.41. The company had a trading volume of 173,331 shares, compared to its average volume of 274,448. The firm has a market capitalization of $1.82 billion, a PE ratio of 13.88 and a beta of 1.86. The firm’s 50 day simple moving average is $41.58 and its 200-day simple moving average is $38.29. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $44.53.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping 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 business had revenue of $156.15 million for the quarter. As a group, equities research analysts predict that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

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

Institutional Investors Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC purchased a new position in Live Oak Bancshares during the 4th quarter worth approximately $22,278,000. UBS Group AG boosted its holdings in shares of Live Oak Bancshares by 29.4% in the 4th quarter. UBS Group AG now owns 160,710 shares of the company’s stock valued at $5,520,000 after acquiring an additional 36,525 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Live Oak Bancshares in the 4th quarter valued at $8,496,000. PDT Partners LLC acquired a new stake in shares of Live Oak Bancshares in the second quarter worth $1,267,000. Finally, WCM Investment Management LLC purchased a new position in shares of Live Oak Bancshares during the first quarter worth $4,955,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Ratings Changes

LOB has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, July 27th. Cantor Fitzgerald boosted their target price on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods raised their price target 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. Finally, Zacks Research downgraded shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Live Oak Bancshares has an average rating of “Moderate Buy” and an average target price of $46.40.

About Live Oak Bancshares

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.