Live Oak Bancshares (NASDAQ:LOB) CFO Sells $172,364.96 in Stock

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

Live Oak Bancshares Price Performance

Shares of LOB opened at $33.55 on Friday. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $42.89. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 23.14 and a beta of 1.97. The business has a 50-day moving average of $38.20 and a 200-day moving average of $35.85.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, March 5th. Live Oak Bancshares’s dividend payout ratio is currently 5.41%.

Analysts Set New Price Targets

Separately, TD Cowen dropped their price target on shares of Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.20.

Institutional Investors Weigh In On Live Oak Bancshares

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in shares of Live Oak Bancshares by 13.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 205,933 shares of the bank’s stock worth $7,253,000 after purchasing an additional 24,664 shares in the last quarter. Walleye Capital LLC increased its position in Live Oak Bancshares by 61.8% in the 2nd quarter. Walleye Capital LLC now owns 90,117 shares of the bank’s stock valued at $2,685,000 after buying an additional 34,424 shares in the last quarter. Squarepoint Ops LLC increased its position in Live Oak Bancshares by 53.6% in the 2nd quarter. Squarepoint Ops LLC now owns 153,078 shares of the bank’s stock valued at $4,562,000 after buying an additional 53,427 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Live Oak Bancshares by 7,761.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 103,063 shares of the bank’s stock worth $3,577,000 after buying an additional 101,752 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in Live Oak Bancshares by 100.1% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,148 shares of the bank’s stock worth $1,018,000 after buying an additional 17,082 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

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.