Live Oak Bancshares (NYSE:LOB) Insider Sells $256,688.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) insider Mark Michael Moroz sold 6,100 shares of Live Oak Bancshares stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total transaction of $256,688.00. Following the sale, the insider owned 12,110 shares in the company, valued at $509,588.80. This represents a 33.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Live Oak Bancshares Stock Down 0.7%

Shares of NYSE LOB traded down $0.31 during trading on Wednesday, reaching $42.61. 236,419 shares of the stock were exchanged, compared to its average volume of 288,420. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 15.00 and a beta of 1.88. The business’s 50-day moving average price is $39.75 and its 200 day moving average price is $37.82. Live Oak Bancshares, Inc. has a twelve month low of $29.36 and a twelve month high of $43.85.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. The business had revenue of $156.15 million during the quarter. As a group, sell-side analysts expect that Live Oak Bancshares, Inc. will post 3.05 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, June 2nd. Live Oak Bancshares’s payout ratio is 4.23%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler upped their price objective 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 upped their price target on Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods raised their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Cantor Fitzgerald lifted their price objective on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.20.

Hedge Funds Weigh In On Live Oak Bancshares

Institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC acquired a new position in Live Oak Bancshares during the 4th quarter valued at approximately $22,278,000. NewEdge Wealth LLC acquired a new stake in Live Oak Bancshares in the fourth quarter worth $43,261,000. UBS Group AG lifted its stake in Live Oak Bancshares by 29.4% in the fourth quarter. UBS Group AG now owns 160,710 shares of the company’s stock valued at $5,520,000 after buying an additional 36,525 shares during the last quarter. Royce & Associates LP bought a new stake in Live Oak Bancshares in the fourth quarter valued at $8,496,000. Finally, Sovran Advisors LLC acquired a new position in shares of Live Oak Bancshares during the fourth quarter valued at $1,134,000. 63.95% of the stock is owned by institutional investors.

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.