Insider Selling: Live Oak Bancshares (NYSE:LOB) Director Sells $72,400.00 in Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 1,810 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $40.00, for a total value of $72,400.00. Following the completion of the transaction, the director owned 1,112,316 shares of the company’s stock, valued at $44,492,640. The trade was a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Price Performance

NYSE LOB traded up $0.12 during trading hours on Thursday, reaching $39.63. The company’s stock had a trading volume of 152,308 shares, compared to its average volume of 275,359. The stock has a market cap of $1.83 billion, a P/E ratio of 13.95 and a beta of 1.86. Live Oak Bancshares, Inc. has a 52 week low of $29.36 and a 52 week high of $44.53. The firm has a fifty day simple moving average of $41.67 and a 200-day simple moving average of $38.31.

Live Oak Bancshares (NYSE:LOB) last announced its earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%.The firm had revenue of $156.15 million for the quarter. On average, research analysts expect that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio is presently 4.23%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Live Oak Bancshares by 28.7% during the first quarter. Royal Bank of Canada now owns 18,592 shares of the company’s stock valued at $495,000 after purchasing an additional 4,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Live Oak Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company’s stock valued at $549,000 after buying an additional 880 shares in the last quarter. Millennium Management LLC raised its position in shares of Live Oak Bancshares by 655.6% during the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock valued at $18,339,000 after purchasing an additional 596,841 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Live Oak Bancshares by 15.2% in the first quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the company’s stock worth $7,041,000 after acquiring an additional 34,849 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Live Oak Bancshares in the first quarter worth $1,758,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on LOB shares. Cantor Fitzgerald boosted their target price on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Weiss Ratings raised Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Zacks Research lowered Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday. TD Cowen increased their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.40.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.