Key Points
- CFO Walter Phifer sold 4,712 shares on March 2 at an average price of $36.58 for about $172,365, reducing his ownership by 31.81% to 10,103 shares (valued ~ $369,568).
- Live Oak declared a quarterly dividend of $0.03 (annualized $0.12, yield ~0.3%) with an ex-dividend date of March 5 and payment on March 15.
- Shares traded down ~2.2% to $35.70; the company has a $1.64B market cap and a consensus analyst rating of “Moderate Buy” with a $44.20 target, while TD Cowen cut its price target to $51 but retained a buy rating.
Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) CFO Walter Phifer sold 4,712 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $36.58, for a total value of $172,364.96. Following the completion of the sale, the chief financial officer owned 10,103 shares of the company's stock, valued at $369,567.74. This trade represents a 31.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Live Oak Bancshares Trading Down 2.2%
LOB stock traded down $0.82 during trading hours on Thursday, hitting $35.70. 30,606 shares of the stock were exchanged, compared to its average volume of 340,212. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $42.89. The firm has a market capitalization of $1.64 billion, a P/E ratio of 24.62 and a beta of 1.97. The company has a 50-day simple moving average of $38.23 and a two-hundred day simple moving average of $35.86.
Live Oak Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th will be paid a $0.03 dividend. The ex-dividend date is Thursday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.3%. Live Oak Bancshares's payout ratio is 5.41%.
Analyst Upgrades and Downgrades
Separately, TD Cowen dropped their price target on shares of Live Oak Bancshares from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.20.
View Our Latest Analysis on Live Oak Bancshares
Hedge Funds Weigh In On Live Oak Bancshares
Several hedge funds have recently bought and sold shares of LOB. Invesco Ltd. raised its position in shares of Live Oak Bancshares by 9.2% in the 4th quarter. Invesco Ltd. now owns 64,322 shares of the bank's stock valued at $2,209,000 after buying an additional 5,445 shares in the last quarter. Mendon Capital Advisors Corp increased its stake in Live Oak Bancshares by 0.5% in the fourth quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the bank's stock valued at $1,718,000 after acquiring an additional 250 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Live Oak Bancshares by 43.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 223,584 shares of the bank's stock valued at $7,680,000 after purchasing an additional 68,222 shares in the last quarter. XTX Topco Ltd bought a new stake in Live Oak Bancshares during the fourth quarter worth $1,197,000. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Live Oak Bancshares by 8.3% in the 4th quarter. Voloridge Investment Management LLC now owns 178,965 shares of the bank's stock valued at $6,147,000 after purchasing an additional 13,682 shares in the last quarter. 63.95% of the stock is owned by institutional investors.
About Live Oak Bancshares
(
Get Free Report)
Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.
Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.
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