Live Oak Bancshares (NASDAQ:LOB) Stock Price Down 1.4% – Time to Sell?
by Doug Wharley · The Cerbat GemLive Oak Bancshares, Inc. (NASDAQ:LOB – Get Free Report) were down 1.4% during mid-day trading on Monday . The company traded as low as $35.72 and last traded at $36.1350. Approximately 255,245 shares changed hands during trading, a decline of 19% from the average daily volume of 316,215 shares. The stock had previously closed at $36.63.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on LOB. Cowen assumed coverage on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. National Bankshares set a $50.00 target price on shares of Live Oak Bancshares in a research note on Wednesday, September 24th. Finally, Piper Sandler lowered their price target on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.
Check Out Our Latest Report on LOB
Live Oak Bancshares Stock Down 1.4%
The business’s fifty day moving average is $33.58 and its 200-day moving average is $34.04. The company has a market cap of $1.66 billion, a PE ratio of 24.92 and a beta of 2.02.
Live Oak Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 8.05%.
Insiders Place Their Bets
In related news, General Counsel Gregory W. Seward sold 1,200 shares of Live Oak Bancshares stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $30.20, for a total transaction of $36,240.00. Following the transaction, the general counsel directly owned 106,126 shares in the company, valued at approximately $3,205,005.20. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tonya Williams Bradford purchased 1,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $30.24 per share, with a total value of $30,240.00. Following the acquisition, the director directly owned 6,697 shares of the company’s stock, valued at $202,517.28. This trade represents a 17.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 23.40% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in LOB. Jones Financial Companies Lllp grew its stake in shares of Live Oak Bancshares by 60.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock valued at $49,000 after acquiring an additional 512 shares during the period. State of Alaska Department of Revenue bought a new stake in Live Oak Bancshares during the 3rd quarter worth approximately $63,000. Tower Research Capital LLC TRC lifted its holdings in Live Oak Bancshares by 138.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank’s stock valued at $95,000 after purchasing an additional 1,850 shares in the last quarter. CWM LLC boosted its position in shares of Live Oak Bancshares by 1,547.3% in the second quarter. CWM LLC now owns 3,904 shares of the bank’s stock worth $116,000 after purchasing an additional 3,667 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Live Oak Bancshares by 111.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the bank’s stock worth $184,000 after purchasing an additional 3,248 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.
Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.