Live Oak Bancshares (NYSE:LOB) Director William Williams III Sells 8,400 Shares

by · The Cerbat Gem

Live Oak Bancshares, Inc. (NYSE:LOB – Get Free Report) Director William Williams III sold 8,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $40.05, for a total value of $336,420.00. Following the sale, the director owned 1,130,926 shares of the company’s stock, valued at approximately $45,293,586.30. This trade represents a 0.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Up 1.9%

Shares of LOB traded up $0.76 during trading on Thursday, reaching $41.06. The company’s stock had a trading volume of 362,331 shares, compared to its average volume of 290,640. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 15.73 and a beta of 1.89. The company has a fifty day moving average of $37.51 and a two-hundred day moving average of $36.72. Live Oak Bancshares, Inc. has a twelve month low of $29.26 and a twelve month high of $42.89.

Live Oak Bancshares (NYSE:LOB – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $145.47 million during the quarter, compared to the consensus estimate of $146.02 million. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.18%. As a group, equities analysts forecast that Live Oak Bancshares, Inc. will post 2.95 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s payout ratio is presently 4.60%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Piper Sandler boosted their price objective 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 upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their target price on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Finally, TD Cowen decreased their target price on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and an average price target of $44.40.

Check Out Our Latest Analysis on Live Oak Bancshares

Hedge Funds Weigh In On Live Oak Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its holdings in shares of Live Oak Bancshares by 157.4% during the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after purchasing an additional 905 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of Live Oak Bancshares in the 4th quarter worth approximately $55,000. Blue Trust Inc. lifted its holdings in shares of Live Oak Bancshares by 671.6% in the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock worth $70,000 after purchasing an additional 1,847 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Live Oak Bancshares by 138.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock valued at $95,000 after purchasing an additional 1,850 shares during the period. Finally, CWM LLC boosted its position in Live Oak Bancshares by 15.0% during the 4th quarter. CWM LLC now owns 4,926 shares of the company’s stock valued at $169,000 after purchasing an additional 642 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

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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