Insider Selling: Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO Sells 12,588 Shares of Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO John W. Sutherland sold 12,588 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the sale, the chief accounting officer now owns 14,015 shares of the company’s stock, valued at $686,735. This trade represents a 47.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Live Oak Bancshares Trading Down 1.4 %

Shares of LOB stock traded down $0.66 during mid-day trading on Friday, reaching $47.89. The stock had a trading volume of 238,450 shares, compared to its average volume of 183,651. Live Oak Bancshares, Inc. has a 12-month low of $31.03 and a 12-month high of $50.57. The company has a market cap of $2.16 billion, a P/E ratio of 30.12 and a beta of 1.63. The business has a 50-day simple moving average of $45.74 and a 200 day simple moving average of $40.23.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. The firm had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. During the same quarter in the prior year, the business earned $0.88 EPS. Research analysts anticipate that Live Oak Bancshares, Inc. will post 2.09 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is currently 7.55%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial cut their price objective on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Piper Sandler cut their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.50.

Institutional Trading of Live Oak Bancshares

A number of large investors have recently made changes to their positions in LOB. Capital International Investors acquired a new stake in shares of Live Oak Bancshares during the first quarter valued at $18,628,000. abrdn plc acquired a new stake in shares of Live Oak Bancshares during the third quarter valued at $14,501,000. Blue Trust Inc. boosted its stake in shares of Live Oak Bancshares by 12,211.1% during the second quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after acquiring an additional 250,939 shares during the last quarter. State Street Corp boosted its stake in shares of Live Oak Bancshares by 13.4% during the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock valued at $52,553,000 after acquiring an additional 131,343 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Live Oak Bancshares by 82.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 185,309 shares of the bank’s stock valued at $8,778,000 after acquiring an additional 83,639 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.