Key Points
- Insider Renato Derraik sold 75,000 shares on April 30 at an average price of $37.83, raising about $2.84 million and cutting his position by 94.65% to 4,243 shares (≈$160,513).
- Live Oak reported quarterly EPS of $0.60 (beat estimates by $0.06) with revenue roughly in line, the stock trades in the mid‑$30s (market cap ≈$1.69B), pays a small annual dividend of $0.12 (~0.3% yield), and carries a consensus Hold rating with an average target of $44.40.
Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) insider Renato Derraik sold 75,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the completion of the sale, the insider owned 4,243 shares of the company's stock, valued at approximately $160,512.69. The trade was a 94.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Live Oak Bancshares Trading Down 1.1%
NYSE LOB opened at $36.75 on Tuesday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 14.08 and a beta of 1.92. The business's 50 day moving average is $35.23 and its two-hundred day moving average is $35.30. Live Oak Bancshares, Inc. has a 12-month low of $25.53 and a 12-month high of $42.89.
Live Oak Bancshares (NYSE:LOB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Live Oak Bancshares had a return on equity of 11.36% and a net margin of 11.79%.The business had revenue of $145.47 million during the quarter, compared to analysts' expectations of $146.02 million. Equities analysts forecast that Live Oak Bancshares, Inc. will post 2.95 earnings per share for the current fiscal year.
Live Oak Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Live Oak Bancshares's dividend payout ratio (DPR) is 4.60%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. NewEdge Wealth LLC acquired a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $43,261,000. William Blair Investment Management LLC acquired a new position in shares of Live Oak Bancshares in the fourth quarter valued at approximately $22,278,000. Millennium Management LLC lifted its stake in shares of Live Oak Bancshares by 655.6% during the first quarter. Millennium Management LLC now owns 687,885 shares of the company's stock valued at $18,339,000 after buying an additional 596,841 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Live Oak Bancshares during the fourth quarter valued at approximately $19,181,000. Finally, Ameriprise Financial Inc. boosted its position in Live Oak Bancshares by 366.9% during the third quarter. Ameriprise Financial Inc. now owns 519,957 shares of the company's stock worth $18,313,000 after acquiring an additional 408,591 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on LOB. Keefe, Bruyette & Woods lowered their price target on shares of Live Oak Bancshares from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. Weiss Ratings raised shares of Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, April 21st. Piper Sandler upped their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Zacks Research raised shares of Live Oak Bancshares from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 17th. Finally, TD Cowen reduced their price target on shares of Live Oak Bancshares from $51.00 to $47.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $44.40.
Get Our Latest Stock Report on Live Oak Bancshares
Live Oak Bancshares Company Profile
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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.
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