Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO John W. Sutherland Sells 12,588 Shares

Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO John W. Sutherland sold 12,588 shares of the stock in a transaction dated 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 approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Live Oak Bancshares Price Performance

LOB opened at $47.89 on Friday. The stock has a 50-day moving average price of $45.87 and a 200-day moving average price of $40.33. Live Oak Bancshares, Inc. has a 1 year low of $31.03 and a 1 year high of $50.57. The firm has a market cap of $2.16 billion, a PE ratio of 30.12 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $241.87 million for the quarter, compared to the consensus estimate of $126.63 million. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 2.09 EPS for the current year.

Live Oak Bancshares Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial cut their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Piper Sandler dropped their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and an average target price of $45.50.

Hedge Funds Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of LOB. Quarry LP grew its stake in shares of Live Oak Bancshares by 98.6% during the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after purchasing an additional 354 shares during the period. Quest Partners LLC raised its position in Live Oak Bancshares by 68.4% in the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after acquiring an additional 823 shares during the period. nVerses Capital LLC boosted its stake in shares of Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after acquiring an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Live Oak Bancshares by 1,885.5% during the 2nd 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 1st quarter worth $129,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

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.