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

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) 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.

Analyst Ratings Changes

LOB has been the subject of several recent analyst reports. Truist Financial cut their price target on 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. Piper Sandler cut their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $44.00 target price (down previously from $48.00) on shares of Live Oak Bancshares in a research report on Friday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares currently has an average rating of “Moderate Buy” and an average price target of $44.75.

Live Oak Bancshares Trading Up 0.2 %

The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 28.11 and a beta of 1.69. The firm’s 50-day moving average is $42.25 and its two-hundred day moving average is $43.19.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The firm had revenue of $241.87 million for the quarter, compared to analyst estimates of $126.63 million. Live Oak Bancshares had a net margin of 7.10% and a return on equity of 6.88%. During the same period in the previous year, the company earned $0.88 EPS. On average, analysts predict that Live Oak Bancshares, Inc. will post 2.52 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio is currently 8.28%.

Insider Buying and Selling at Live Oak Bancshares

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

Institutional Trading of Live Oak Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Live Oak Bancshares by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock valued at $36,658,000 after acquiring an additional 13,824 shares during the last quarter. Barclays PLC boosted its holdings in Live Oak Bancshares by 130.5% in the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank’s stock valued at $3,485,000 after purchasing an additional 41,662 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Live Oak Bancshares by 195.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank’s stock valued at $3,888,000 after purchasing an additional 54,286 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Live Oak Bancshares in the 3rd quarter valued at approximately $364,000. Finally, Stifel Financial Corp increased its holdings in shares of Live Oak Bancshares by 59.5% during the 3rd quarter. Stifel Financial Corp now owns 19,720 shares of the bank’s stock worth $934,000 after buying an additional 7,357 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

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.