Live Oak Bancshares (NASDAQ:LOB) Shares Down 7.4% - Should You Sell?

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) fell 7.4% during mid-day trading on Thursday . The company traded as low as $43.01 and last traded at $43.18. 56,770 shares were traded during trading, a decline of 68% from the average session volume of 175,940 shares. The stock had previously closed at $46.64.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LOB shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Piper Sandler boosted their target price on Live Oak Bancshares from $36.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on Live Oak Bancshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, June 27th. Finally, Truist Financial boosted their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the company a "buy" rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $48.75.

Live Oak Bancshares Stock Performance

The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 21.44 and a beta of 1.60. The business has a 50-day simple moving average of $45.10 and a two-hundred day simple moving average of $39.57.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last released its earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.13. The business had revenue of $232.61 million for the quarter, compared to analyst estimates of $123.08 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, analysts expect that Live Oak Bancshares, Inc. will post 2.31 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares's dividend payout ratio is currently 6.03%.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares of the company's stock, valued at approximately $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.90% of the stock is owned by company insiders.

Institutional Trading of Live Oak Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Toth Financial Advisory Corp raised its position in shares of Live Oak Bancshares by 10.7% in the first quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank's stock valued at $138,000 after purchasing an additional 320 shares during the period. ProShare Advisors LLC increased its position in 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 acquiring an additional 476 shares during the period. Cetera Advisors LLC raised its stake in Live Oak Bancshares by 9.2% in the 1st quarter. Cetera Advisors LLC now owns 5,906 shares of the bank's stock worth $245,000 after purchasing an additional 500 shares in the last quarter. Riverview Trust Co acquired a new stake in Live Oak Bancshares in the 1st quarter worth about $28,000. Finally, nVerses Capital LLC boosted its holdings in Live Oak Bancshares by 87.5% in the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank's stock valued at $71,000 after purchasing an additional 700 shares during the period. Institutional investors own 63.95% of the company's stock.

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.