Live Oak Bancshares, Inc. (NYSE:LOB – Get Free Report) insider Mark Michael Moroz sold 6,100 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total value of $256,688.00. Following the sale, the insider owned 12,110 shares in the company, valued at approximately $509,588.80. The trade was a 33.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Live Oak Bancshares Price Performance
NYSE LOB opened at $42.41 on Friday. The stock has a market capitalization of $1.96 billion, a P/E ratio of 14.93 and a beta of 1.88. The business has a 50 day simple moving average of $39.96 and a 200 day simple moving average of $37.89. Live Oak Bancshares, Inc. has a one year low of $29.36 and a one year high of $43.85.
Live Oak Bancshares (NYSE:LOB – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. The firm had revenue of $156.15 million for the quarter. Live Oak Bancshares had a return on equity of 11.95% and a net margin of 12.68%. Equities analysts expect that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.
Live Oak Bancshares Announces Dividend
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on LOB. Zacks Research raised shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald lifted their price target on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Piper Sandler upped their price objective on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, April 27th. TD Cowen increased their price objective on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods raised their target price on Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.20.
Get Our Latest Analysis on LOB
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of LOB. NewEdge Wealth LLC purchased a new stake in Live Oak Bancshares in the 4th quarter valued at $43,261,000. William Blair Investment Management LLC purchased a new position in Live Oak Bancshares during the 4th quarter worth $22,278,000. UBS Group AG boosted its holdings in Live Oak Bancshares by 29.4% during the 4th quarter. UBS Group AG now owns 160,710 shares of the company’s stock worth $5,520,000 after acquiring an additional 36,525 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Live Oak Bancshares in the 4th quarter worth $8,496,000. Finally, Sovran Advisors LLC purchased a new stake in shares of Live Oak Bancshares in the fourth quarter valued at about $1,134,000. Institutional investors own 63.95% of the company’s stock.
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.
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