Key Points
- Insider sale: Live Oak Bancshares insider Mark Michael Moroz sold 6,100 shares for $256,688, reducing his ownership by 33.5% to 12,110 shares.
- Quarterly performance: The company reported quarterly EPS of $0.74, beating analyst expectations of $0.64, on revenue of $156.15 million.
- Market outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $46.20, compared with the stock’s reported price of $42.61.
Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) Director David Lucht sold 3,000 shares of the firm's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $42.13, for a total value of $126,390.00. Following the transaction, the director owned 15,623 shares in the company, valued at approximately $658,196.99. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Live Oak Bancshares Price Performance
LOB opened at $42.61 on Thursday. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $43.85. 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 firm's fifty day moving average price is $39.86 and its two-hundred day moving average price is $37.85.
Live Oak Bancshares (NYSE:LOB - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.64 by $0.10. The company had revenue of $156.15 million during the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. As a group, equities analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current year.
Live Oak Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. Live Oak Bancshares's dividend payout ratio is presently 4.23%.
Institutional Trading of Live Oak Bancshares
A number of large investors have recently added to or reduced their stakes in LOB. Larson Financial Group LLC raised its position in Live Oak Bancshares by 157.4% in the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company's stock worth $51,000 after acquiring an additional 905 shares during the period. Laurel Wealth Advisors LLC purchased a new position in Live Oak Bancshares in the fourth quarter valued at about $55,000. Blue Trust Inc. grew its position in shares of Live Oak Bancshares by 671.6% during the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company's stock valued at $70,000 after acquiring an additional 1,847 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Live Oak Bancshares by 138.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company's stock valued at $95,000 after acquiring an additional 1,850 shares during the period. Finally, CWM LLC increased its stake in shares of Live Oak Bancshares by 15.0% during the 4th quarter. CWM LLC now owns 4,926 shares of the company's stock worth $169,000 after purchasing an additional 642 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on LOB. TD Cowen lifted their target price on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the stock a "buy" rating in a research report on Monday. Cantor Fitzgerald upped their target price on Live Oak Bancshares from $41.00 to $44.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Zacks Research raised Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Weiss Ratings raised Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler lifted their price target on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Live Oak Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.20.
Check Out Our Latest Stock Report on Live Oak Bancshares
About Live Oak Bancshares
(
Get Free Report)
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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