Insider Selling: Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO Sells 12,588 Shares of Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO John W. Sutherland sold 12,588 shares of the 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 owns 14,015 shares in the company, valued at $686,735. This trade represents a 47.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Live Oak Bancshares Price Performance

NASDAQ:LOB opened at $47.89 on Monday. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 30.12 and a beta of 1.63. The business has a 50 day moving average of $45.87 and a 200 day moving average of $40.43. Live Oak Bancshares, Inc. has a 1-year low of $31.03 and a 1-year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data 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 business had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.25%. Live Oak Bancshares’s payout ratio is 7.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LOB. Quarry LP lifted its stake in shares of Live Oak Bancshares by 98.6% in the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after acquiring an additional 354 shares during the last quarter. Quest Partners LLC increased its stake in Live Oak Bancshares by 68.4% in the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after purchasing an additional 823 shares during the period. nVerses Capital LLC lifted its position in Live Oak Bancshares by 87.5% in the third 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 last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Live Oak Bancshares by 1,885.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after purchasing an additional 2,206 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Live Oak Bancshares in the first quarter worth $129,000. 63.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on LOB shares. Piper Sandler lowered their price target on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Finally, Truist Financial decreased 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 report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares has an average rating of “Hold” and an average price target of $45.50.

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.