Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) Director Tonya Bradford sold 1,600 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $39.89, for a total transaction of $63,824.00. Following the sale, the director directly owned 8,043 shares of the company's stock, valued at approximately $320,835.27. The trade was a 16.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Live Oak Bancshares Price Performance
Shares of LOB stock opened at $39.41 on Wednesday. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $44.53. The firm has a market capitalization of $1.82 billion, a P/E ratio of 13.88 and a beta of 1.86. The company's fifty day moving average price is $41.55 and its two-hundred day moving average price is $38.28.
Live Oak Bancshares (NYSE:LOB - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%.The company had revenue of $156.15 million during the quarter. On average, sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current year.
Live Oak Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Live Oak Bancshares's dividend payout ratio is currently 4.23%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOB. California State Teachers Retirement System increased its position in Live Oak Bancshares by 4,962.5% in the second quarter. California State Teachers Retirement System now owns 1,668,641 shares of the company's stock worth $68,147,000 after buying an additional 1,635,680 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Live Oak Bancshares by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 16,857 shares of the company's stock valued at $688,000 after acquiring an additional 499 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Live Oak Bancshares during the second quarter valued at $326,000. Empowered Funds LLC bought a new position in shares of Live Oak Bancshares during the second quarter worth about $3,643,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of Live Oak Bancshares in the 2nd quarter worth about $128,000. Institutional investors and hedge funds own 63.95% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on LOB. Zacks Research downgraded Live Oak Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Keefe, Bruyette & Woods raised their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. TD Cowen lifted their price target on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald increased their price objective on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.40.
Read Our Latest Stock Analysis on LOB
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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