Live Oak Bancshares, Inc. (NYSE:LOB – Get Free Report) Director William Williams III sold 8,400 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $40.05, for a total transaction of $336,420.00. Following the sale, the director owned 1,130,926 shares in the company, valued at $45,293,586.30. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Live Oak Bancshares Trading Up 1.9%
LOB opened at $41.06 on Friday. The firm has a market cap of $1.90 billion, a P/E ratio of 15.73 and a beta of 1.89. Live Oak Bancshares, Inc. has a 12 month low of $29.26 and a 12 month high of $42.89. The stock has a 50-day moving average of $37.60 and a 200 day moving average of $36.78.
Live Oak Bancshares (NYSE:LOB – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $145.47 million for the quarter, compared to the consensus estimate of $146.02 million. Live Oak Bancshares had a return on equity of 11.18% and a net margin of 11.79%. On average, research analysts forecast that Live Oak Bancshares, Inc. will post 2.95 earnings per share for the current fiscal year.
Live Oak Bancshares Announces Dividend
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Keefe, Bruyette & Woods dropped their price target on shares of Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, April 24th. TD Cowen cut their price target on shares of Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Piper Sandler increased their price objective on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.40.
Check Out Our Latest Stock Analysis on Live Oak Bancshares
Institutional Trading of Live Oak Bancshares
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in shares of Live Oak Bancshares by 157.4% during the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after purchasing an additional 905 shares during the period. Laurel Wealth Advisors LLC purchased a new position in Live Oak Bancshares in the 4th quarter worth about $55,000. Blue Trust Inc. lifted its holdings in Live Oak Bancshares by 671.6% during the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock valued at $70,000 after buying an additional 1,847 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock valued at $95,000 after buying an additional 1,850 shares during the period. Finally, CWM LLC grew its stake in Live Oak Bancshares by 15.0% in the 4th quarter. CWM LLC now owns 4,926 shares of the company’s stock worth $169,000 after acquiring an additional 642 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.
About Live Oak Bancshares
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.
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