Live Oak Bancshares (NASDAQ:LOB) Shares Down 2.8%

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s share price traded down 2.8% during mid-day trading on Wednesday . The stock traded as low as $33.69 and last traded at $33.82. 51,481 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 170,011 shares. The stock had previously closed at $34.78.

Analysts Set New Price Targets

A number of research firms recently commented on LOB. Truist Financial decreased their target price on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Live Oak Bancshares presently has a consensus rating of “Hold” and a consensus target price of $39.25.

Live Oak Bancshares Stock Down 3.5 %

The company has a market capitalization of $1.51 billion, a P/E ratio of 17.62 and a beta of 1.62. The business has a 50 day simple moving average of $34.15 and a 200-day simple moving average of $38.11.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.12). Live Oak Bancshares had a return on equity of 10.25% and a net margin of 10.62%. The company had revenue of $116.21 million for the quarter, compared to analyst estimates of $118.89 million. Equities analysts forecast that Live Oak Bancshares, Inc. will post 1.94 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.36%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Insider Activity at Live Oak Bancshares

In related news, Director Tonya Williams Bradford sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total value of $93,522.00. Following the transaction, the director now owns 5,870 shares in the company, valued at $211,143.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LOB. Riverview Trust Co acquired a new position in shares of Live Oak Bancshares during the 1st quarter worth $28,000. Independence Bank of Kentucky bought a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $44,000. Blue Trust Inc. raised its stake in Live Oak Bancshares by 1,127.6% during the 4th quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock worth $97,000 after buying an additional 1,962 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Live Oak Bancshares during the 1st quarter worth approximately $129,000. Finally, Toth Financial Advisory Corp raised its stake in shares of Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after purchasing an additional 775 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.

About Live Oak Bancshares

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.