Live Oak Bancshares (NASDAQ:LOB) Shares Gap Down – Time to Sell?

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOBGet Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $40.76, but opened at $38.00. Live Oak Bancshares shares last traded at $35.00, with a volume of 42,672 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on LOB. Piper Sandler reduced their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Truist Financial decreased their price objective 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. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Check Out Our Latest Report on Live Oak Bancshares

Live Oak Bancshares Stock Down 12.7 %

The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 22.39 and a beta of 1.69. The business’s 50-day moving average is $42.78 and its two-hundred day moving average is $43.23.

Live Oak Bancshares (NASDAQ:LOBGet Free Report) last posted its quarterly 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). The business had revenue of $241.87 million for the quarter, compared to analyst estimates of $126.63 million. Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, analysts forecast that Live Oak Bancshares, Inc. will post 1.65 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 annualized dividend and a yield of 0.34%. Live Oak Bancshares’s payout ratio is 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were purchased at an average cost of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now directly owns 202,217 shares in the company, valued at approximately $8,040,147.92. This represents a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the sale, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Several large investors have recently added to or reduced their stakes in the business. Quarry LP increased its position 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 purchasing an additional 354 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of 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 buying an additional 700 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Live Oak Bancshares by 161.4% in the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock valued at $150,000 after buying an additional 1,954 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Live Oak Bancshares in the 3rd quarter valued at $205,000. Finally, Entropy Technologies LP acquired a new position in shares of Live Oak Bancshares in the 3rd quarter valued at $205,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

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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