Key Points
- Live Oak Bancshares’ general counsel sold 5,000 shares at an average price of $35.31, generating $176,550. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 4.39% to 108,797 shares.
- The company reported quarterly EPS of $0.52, below the $0.64 analyst consensus, while revenue of $175.65 million exceeded estimates of $167.50 million.
- Analysts maintain a consensus “Hold” rating with a $41.75 target price; institutional investors own approximately 63.95% of the company.
Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) General Counsel Gregory Seward sold 5,000 shares of the firm's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $35.31, for a total value of $176,550.00. Following the sale, the general counsel directly owned 108,797 shares of the company's stock, valued at $3,841,622.07. This represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Live Oak Bancshares Stock Performance
Shares of LOB opened at $34.59 on Thursday. The stock has a fifty day moving average price of $37.42 and a two-hundred day moving average price of $38.10. 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 $1.60 billion, a price-to-earnings ratio of 12.31 and a beta of 1.94.
Live Oak Bancshares (NYSE:LOB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.12). The business had revenue of $175.65 million during the quarter, compared to analyst estimates of $167.50 million. Live Oak Bancshares had a return on equity of 11.56% and a net margin of 12.22%. As a group, research analysts predict that Live Oak Bancshares, Inc. will post 2.92 EPS for the current fiscal year.
Live Oak Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.03 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Live Oak Bancshares's dividend payout ratio (DPR) is 4.27%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on LOB. Cantor Fitzgerald cut their price target on Live Oak Bancshares from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Wednesday, October 14th. Keefe, Bruyette & Woods increased their price objective on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Piper Sandler decreased their price objective on shares of Live Oak Bancshares from $46.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, October 7th. TD Cowen lowered their price objective on shares of Live Oak Bancshares from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Monday. Finally, Weiss Ratings upgraded shares of Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Live Oak Bancshares presently has an average rating of "Hold" and a consensus target price of $41.75.
Get Our Latest Stock Report on Live Oak Bancshares
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of LOB. BlackRock Inc. bought a new position in Live Oak Bancshares in the 2nd quarter valued at $143,588,000. Dimensional Fund Advisors LP increased its stake in shares of 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 valued at $52,685,000 after buying an additional 54,750 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Live Oak Bancshares in the 2nd quarter valued at $55,546,000. Southernsun Asset Management LLC increased its stake in shares of Live Oak Bancshares by 0.4% in the 1st quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company's stock valued at $34,179,000 after buying an additional 4,431 shares during the period. Finally, Algert Global LLC raised its position in shares of Live Oak Bancshares by 61.6% during the second quarter. Algert Global LLC now owns 586,166 shares of the company's stock worth $23,939,000 after acquiring an additional 223,487 shares during the last quarter. Institutional investors own 63.95% of the company's stock.
About Live Oak Bancshares
(
Get Free Report)
Live Oak Bancshares, Inc is the parent company of Live Oak Bank, a digital-focused financial institution headquartered in Wilmington, North Carolina. Founded in 2008, the company specializes in providing banking services to small and mid-sized businesses, with a particular emphasis on loans to owners of professional and industry-specific businesses.
Through Live Oak Bank, the company offers commercial lending, Small Business Administration (SBA) loans, business deposits, treasury management and other financial services.
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