Insider Selling: Live Oak Bancshares (NASDAQ:LOB) Insider Sells $378,397.00 in Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) insider Courtney Spencer sold 9,700 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $39.01, for a total value of $378,397.00. Following the transaction, the insider directly owned 25,160 shares in the company, valued at approximately $981,491.60. This represents a 27.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock opened at $39.99 on Friday. The company has a market capitalization of $1.83 billion, a PE ratio of 27.58 and a beta of 2.02. The company has a 50 day moving average price of $35.60 and a 200-day moving average price of $34.65. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $42.89.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Tuesday, December 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 5.41%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price objective on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Hedge Funds Weigh In On Live Oak Bancshares

Several hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Live Oak Bancshares by 60.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock valued at $49,000 after acquiring an additional 512 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in Live Oak Bancshares in the 4th quarter valued at $55,000. State of Alaska Department of Revenue purchased a new stake in shares of Live Oak Bancshares in the third quarter worth about $63,000. Tower Research Capital LLC TRC lifted its position in Live Oak Bancshares by 138.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank’s stock worth $95,000 after acquiring an additional 1,850 shares in the last quarter. Finally, CWM LLC boosted its holdings in Live Oak Bancshares by 1,547.3% in the 2nd quarter. CWM LLC now owns 3,904 shares of the bank’s stock worth $116,000 after acquiring an additional 3,667 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

About Live Oak Bancshares

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.