Insider Selling: Live Oak Bancshares (NYSE:LOB) Director Sells $72,400.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 1,810 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $40.00, for a total transaction of $72,400.00. Following the sale, the director owned 1,112,316 shares in the company, valued at approximately $44,492,640. This represents a 0.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Performance

LOB opened at $39.63 on Friday. The company has a fifty day moving average of $41.61 and a two-hundred day moving average of $38.31. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.95 and a beta of 1.86. Live Oak Bancshares, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $44.53.

Live Oak Bancshares (NYSE:LOB) last posted its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (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 business had revenue of $156.15 million for the quarter. On average, equities research analysts forecast that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.23%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LOB. Cantor Fitzgerald increased their target price on Live Oak Bancshares from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. TD Cowen increased their price objective on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Finally, Zacks Research cut Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.40.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in shares of Live Oak Bancshares in the second quarter valued at approximately $36,000. Larson Financial Group LLC boosted its stake in Live Oak Bancshares by 157.4% during the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock worth $51,000 after buying an additional 905 shares during the last quarter. Blue Trust Inc. grew its holdings in Live Oak Bancshares by 671.6% in the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock valued at $70,000 after buying an additional 1,847 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock worth $95,000 after acquiring an additional 1,850 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of Live Oak Bancshares during the 2nd quarter worth $128,000. 63.95% of the stock is owned by hedge funds and other 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.