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 stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the completion of the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $47.89 on Friday. Live Oak Bancshares, Inc. has a 1-year low of $31.03 and a 1-year high of $50.57. The business has a 50 day simple moving average of $45.87 and a two-hundred day simple moving average of $40.33. The stock has a market capitalization of $2.16 billion, a PE ratio of 30.12 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) 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 business had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same period in the previous year, the company earned $0.88 EPS. On average, analysts anticipate that Live Oak Bancshares, Inc. will post 2.09 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Live Oak Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in shares of Live Oak Bancshares by 98.6% in the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after purchasing an additional 354 shares during the period. Quest Partners LLC boosted its stake in Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after buying an additional 823 shares during the period. nVerses Capital LLC boosted its stake in Live Oak Bancshares by 87.5% during the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after buying an additional 700 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Live Oak Bancshares by 1,885.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after acquiring an additional 2,206 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Live Oak Bancshares in the first quarter valued at $129,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

About Live Oak Bancshares

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.