Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) CAO John W. Sutherland sold 12,588 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 14,015 shares of the company's stock, valued at $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Live Oak Bancshares Price Performance
Shares of LOB stock traded down $0.66 during trading hours on Friday, reaching $47.89. 238,450 shares of the stock were exchanged, compared to its average volume of 183,651. The business's fifty day moving average is $45.74 and its two-hundred day moving average is $40.23. Live Oak Bancshares, Inc. has a 12-month low of $31.03 and a 12-month high of $50.57. The firm has a market capitalization of $2.16 billion, a P/E ratio of 30.12 and a beta of 1.63.
Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last released its 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 return on equity of 7.65% and a net margin of 7.99%. The firm had revenue of $241.87 million for the quarter, compared to analysts' expectations of $126.63 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, equities research analysts predict that Live Oak Bancshares, Inc. will post 2.09 earnings per share for the current fiscal year.
Live Oak Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares's dividend payout ratio (DPR) is 7.55%.
Hedge Funds Weigh In On Live Oak Bancshares
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOB. BNP Paribas Financial Markets boosted its holdings in Live Oak Bancshares by 81.3% in the first quarter. BNP Paribas Financial Markets now owns 16,674 shares of the bank's stock valued at $692,000 after purchasing an additional 7,475 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Live Oak Bancshares in the first quarter valued at approximately $289,000. SG Americas Securities LLC acquired a new stake in shares of Live Oak Bancshares in the first quarter valued at approximately $165,000. Russell Investments Group Ltd. raised its stake in shares of Live Oak Bancshares by 1.7% during the first quarter. Russell Investments Group Ltd. now owns 118,609 shares of the bank's stock worth $4,923,000 after purchasing an additional 1,961 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Live Oak Bancshares by 8.5% during the first quarter. ProShare Advisors LLC now owns 6,048 shares of the bank's stock worth $251,000 after purchasing an additional 476 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. 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, Truist Financial cut their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $45.50.
Read Our Latest Analysis on LOB
About Live Oak Bancshares
(
Get Free Report)
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.
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