David Lucht Sells 2,000 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director David Lucht sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total value of $88,720.00. Following the completion of the sale, the director directly owned 13,623 shares in the company, valued at $604,316.28. This represents a 12.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Live Oak Bancshares Stock Down 3.0%

Shares of LOB stock opened at $42.46 on Friday. The stock has a 50-day simple moving average of $40.54 and a 200 day simple moving average of $38.13. Live Oak Bancshares, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $44.53. The stock has a market capitalization of $1.96 billion, a P/E ratio of 14.95 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. The firm had revenue of $156.15 million for the quarter. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, June 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.23%.

Wall Street Analyst Weigh In

LOB has been the topic of several research reports. Cantor Fitzgerald upped their price target on Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Piper Sandler raised their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Zacks Research raised Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, TD Cowen upped their target price on Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.20.

Institutional Investors Weigh In On Live Oak Bancshares

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in Live Oak Bancshares in the 2nd quarter worth approximately $36,000. Larson Financial Group LLC raised its stake in Live Oak Bancshares by 157.4% during the 4th quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after purchasing an additional 905 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in shares of Live Oak Bancshares in the fourth quarter valued at $55,000. Blue Trust Inc. lifted its holdings in shares of Live Oak Bancshares by 671.6% in the first quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock valued at $70,000 after purchasing an additional 1,847 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Live Oak Bancshares by 138.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock worth $95,000 after buying an additional 1,850 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.