Live Oak Bancshares (NYSE:LOB) Director Sells $349,524.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 8,400 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $41.61, for a total value of $349,524.00. Following the completion of the sale, the director owned 1,122,526 shares of the company’s stock, valued at approximately $46,708,306.86. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Price Performance

Shares of LOB opened at $40.33 on Thursday. The stock’s 50-day moving average is $38.35 and its two-hundred day moving average is $37.17. The stock has a market cap of $1.87 billion, a PE ratio of 15.45 and a beta of 1.88. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $42.89.

Live Oak Bancshares (NYSE:LOB) last posted its earnings results on Wednesday, April 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $145.47 million during the quarter, compared to analyst estimates of $146.02 million. Live Oak Bancshares had a return on equity of 11.18% and a net margin of 11.79%. On average, research analysts anticipate that Live Oak Bancshares, Inc. will post 2.97 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. Live Oak Bancshares’s payout ratio is presently 4.60%.

Analysts Set New Price Targets

Several equities analysts have recently commented on LOB shares. Piper Sandler increased their target price on Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. TD Cowen reduced their price target on shares of Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Keefe, Bruyette & Woods dropped their price objective on shares of Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Finally, Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and an average target price of $44.40.

Hedge Funds Weigh In On Live Oak Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mendon Capital Advisors Corp increased its position in Live Oak Bancshares by 0.5% in the 4th quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the company’s stock valued at $1,718,000 after acquiring an additional 250 shares during the period. Central Pacific Bank Trust Division grew its stake in shares of Live Oak Bancshares by 3.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 13,028 shares of the company’s stock worth $448,000 after purchasing an additional 416 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Live Oak Bancshares by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 6,467 shares of the company’s stock valued at $222,000 after purchasing an additional 418 shares during the period. Federated Hermes Inc. raised its stake in shares of Live Oak Bancshares by 1.2% during the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $1,323,000 after purchasing an additional 468 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Live Oak Bancshares by 6.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,889 shares of the company’s stock worth $271,000 after purchasing an additional 506 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

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.