Several other research analysts also recently issued reports on LOB. BidaskClub upgraded shares of Live Oak Bancshares from a sell rating to a hold rating in a report on Thursday, January 11th. Zacks Investment Research downgraded shares of Live Oak Bancshares from a hold rating to a sell rating in a report on Wednesday, November 1st. Finally, Sandler O’Neill restated a buy rating and set a $30.00 price objective on shares of Live Oak Bancshares in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $28.25.
Live Oak Bancshares (LOB) opened at $26.10 on Monday. The company has a market cap of $1,054.72, a price-to-earnings ratio of 10.40 and a beta of 0.18. Live Oak Bancshares has a twelve month low of $20.40 and a twelve month high of $28.20. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.07.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.12 annualized dividend and a dividend yield of 0.46%. Live Oak Bancshares’s payout ratio is 4.78%.
In other news, CFO S. Brett Caines sold 7,429 shares of Live Oak Bancshares stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $26.92, for a total transaction of $199,988.68. Following the sale, the chief financial officer now directly owns 423,384 shares in the company, valued at approximately $11,397,497.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 64,216 shares of company stock worth $1,699,876. Insiders own 30.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in shares of Live Oak Bancshares during the 3rd quarter valued at about $183,000. Teacher Retirement System of Texas acquired a new position in Live Oak Bancshares in the fourth quarter valued at about $222,000. MetLife Investment Advisors LLC acquired a new position in Live Oak Bancshares in the fourth quarter valued at about $248,000. BB&T Securities LLC acquired a new position in Live Oak Bancshares in the fourth quarter valued at about $277,000. Finally, Voya Investment Management LLC boosted its position in Live Oak Bancshares by 12.5% in the second quarter. Voya Investment Management LLC now owns 11,703 shares of the bank’s stock valued at $283,000 after buying an additional 1,303 shares in the last quarter. Institutional investors and hedge funds own 41.34% of the company’s stock.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).
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