Live Oak Bancshares (NYSE:LOB) General Counsel Gregory Seward Sells 5,000 Shares of Company Stock

Live Oak Bancshares, Inc. (NYSE:LOB) General Counsel Gregory Seward sold 5,000 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $35.31, for a total value of $176,550.00. Following the completion of the transaction, the general counsel owned 108,797 shares of the company’s stock, valued at $3,841,622.07. The trade was a 4.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Price Performance

Shares of LOB stock opened at $34.59 on Thursday. Live Oak Bancshares, Inc. has a one year low of $29.36 and a one year high of $44.53. The stock has a fifty day moving average price of $37.42 and a 200 day moving average price of $38.10. The stock has a market cap of $1.60 billion, a P/E ratio of 12.31 and a beta of 1.94.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.12). The business had revenue of $175.65 million during the quarter, compared to the consensus estimate of $167.50 million. Live Oak Bancshares had a net margin of 12.22% and a return on equity of 11.56%. Equities research analysts anticipate that Live Oak Bancshares, Inc. will post 2.92 EPS for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued 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, September 1st. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.27%.

Analyst Ratings Changes

LOB has been the topic of several recent research reports. Piper Sandler decreased their target price on shares of Live Oak Bancshares from $46.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Cantor Fitzgerald dropped their price target on shares of Live Oak Bancshares from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Zacks Research cut shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.75.

Institutional Trading of Live Oak Bancshares

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Live Oak Bancshares during the 2nd quarter worth about $143,588,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Live Oak Bancshares in the second quarter valued at about $55,546,000. Dimensional Fund Advisors LP grew its stake in Live Oak Bancshares by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company’s stock worth $52,685,000 after buying an additional 54,750 shares during the last quarter. Southernsun Asset Management LLC grew its stake in Live Oak Bancshares by 0.4% during the first quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company’s stock worth $34,179,000 after buying an additional 4,431 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Live Oak Bancshares by 61.6% during the second quarter. Algert Global LLC now owns 586,166 shares of the company’s stock worth $23,939,000 after buying an additional 223,487 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is the parent company of Live Oak Bank, a digital-focused financial institution headquartered in Wilmington, North Carolina. Founded in 2008, the company specializes in providing banking services to small and mid-sized businesses, with a particular emphasis on loans to owners of professional and industry-specific businesses.

Through Live Oak Bank, the company offers commercial lending, Small Business Administration (SBA) loans, business deposits, treasury management and other financial services.