Key Points
- Director William Williams III sold 8,400 Live Oak Bancshares shares for $361,872 at an average price of $43.08 under a pre-arranged Rule 10b5-1 plan. He retained 1,114,126 shares, representing a 0.75% reduction in his position.
- Live Oak Bancshares recently reported quarterly EPS of $0.74, exceeding analyst expectations of $0.64, on revenue of $156.15 million. Shares opened at $43.76, near the company’s 52-week high of $44.53.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $46.20, while institutional investors own approximately 63.95% of the company.
Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) Director David Lucht sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total value of $88,720.00. Following the completion of the transaction, the director directly owned 13,623 shares in the company, valued at $604,316.28. The trade was a 12.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Live Oak Bancshares Stock Up 0.3%
Live Oak Bancshares stock opened at $43.76 on Thursday. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $44.53. The company has a market cap of $2.02 billion, a P/E ratio of 15.41 and a beta of 1.87. The business has a 50-day simple moving average of $40.44 and a two-hundred day simple moving average of $38.09.
Live Oak Bancshares (NYSE:LOB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. The firm had revenue of $156.15 million for the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. Research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.
Live Oak Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were given a $0.03 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.12 annualized dividend and a yield of 0.3%. Live Oak Bancshares's dividend payout ratio (DPR) is presently 4.23%.
Institutional Trading of Live Oak Bancshares
A number of hedge funds and other institutional investors have recently modified their holdings of LOB. Vanguard Group Inc. raised its position in shares of Live Oak Bancshares by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company's stock valued at $92,835,000 after purchasing an additional 17,181 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Live Oak Bancshares by 3.6% in the 1st 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 period. State Street Corp increased its stake in Live Oak Bancshares by 5.1% in the 4th quarter. State Street Corp now owns 1,308,462 shares of the company's stock worth $44,946,000 after buying an additional 63,325 shares in the last quarter. NewEdge Wealth LLC bought a new stake in Live Oak Bancshares during the fourth quarter valued at about $43,261,000. Finally, Southernsun Asset Management LLC raised its holdings 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 valued at $34,179,000 after acquiring an additional 4,431 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Zacks Research upgraded Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Piper Sandler boosted their price target on Live Oak Bancshares from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Weiss Ratings raised Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald upped their price target on Live Oak Bancshares from $41.00 to $44.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.20.
Check Out Our Latest Stock Analysis on LOB
Live Oak Bancshares Company Profile
(
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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