Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO Sells $616,812.00 in Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) 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 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 approximately $686,735. This represents a 47.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Live Oak Bancshares Stock Down 1.4 %

Shares of Live Oak Bancshares stock opened at $47.89 on Friday. 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 cap of $2.16 billion, a PE ratio of 30.12 and a beta of 1.63. The company’s fifty day simple moving average is $45.87 and its two-hundred day simple moving average is $40.39.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) 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 company had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, sell-side analysts expect that Live Oak Bancshares, Inc. will post 2.09 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 dividend yield of 0.25%. Live Oak Bancshares’s dividend payout ratio is presently 7.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Piper Sandler decreased their price objective 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP increased its stake in shares of Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after purchasing an additional 354 shares in the last quarter. nVerses Capital LLC raised its stake in Live Oak Bancshares by 87.5% during the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after buying an additional 700 shares during the last quarter. Quest Partners LLC boosted its holdings in Live Oak Bancshares by 68.4% in the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after acquiring an additional 823 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Live Oak Bancshares by 1,885.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,206 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $129,000. 63.95% of the stock is owned by hedge funds and other 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.