Insider Selling: 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 transaction of $616,812.00. Following the transaction, the chief accounting officer now owns 14,015 shares of the company’s stock, valued at approximately $686,735. This represents a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Live Oak Bancshares Price Performance

LOB opened at $47.89 on Monday. Live Oak Bancshares, Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $50.57. The firm has a market capitalization of $2.16 billion, a P/E ratio of 30.12 and a beta of 1.63. The company’s 50-day moving average is $45.87 and its 200 day moving average is $40.43.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.25). The business had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. During the same period in the prior year, the business earned $0.88 earnings per share. On average, equities research analysts expect that Live Oak Bancshares, Inc. will post 2.09 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 7.55%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOB. Quarry LP lifted its position in shares of Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after acquiring an additional 354 shares in the last quarter. nVerses Capital LLC grew its position in shares of 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 in the last quarter. Quest Partners LLC raised its stake in shares of Live Oak Bancshares by 68.4% during the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after purchasing an additional 823 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $81,000 after purchasing an additional 2,206 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Live Oak Bancshares in the 1st quarter worth about $129,000. Institutional investors own 63.95% of the company’s stock.

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.