Live Oak Bancshares, Inc. (NYSE:LOB – Get Free Report) Director William Williams III sold 8,400 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.08, for a total transaction of $361,872.00. Following the completion of the sale, the director owned 1,114,126 shares of the company’s stock, valued at approximately $47,996,548.08. The trade was a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Live Oak Bancshares Stock Up 0.3%
Shares of Live Oak Bancshares stock traded up $0.13 during trading on Wednesday, reaching $43.76. The company’s stock had a trading volume of 252,826 shares, compared to its average volume of 286,395. Live Oak Bancshares, Inc. has a 12-month low of $29.36 and a 12-month high of $44.53. The business has a 50 day moving average price of $40.32 and a 200-day moving average price of $38.05. The company has a market capitalization of $2.02 billion, a P/E ratio of 15.41 and a beta of 1.87.
Live Oak Bancshares (NYSE:LOB – Get Free Report) last issued 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. The company had revenue of $156.15 million for the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. Research analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.
Live Oak Bancshares Announces Dividend
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. purchased a new stake in Live Oak Bancshares in the 2nd quarter valued at approximately $2,005,000. Walleye Capital LLC acquired a new stake in Live Oak Bancshares during the 2nd quarter valued at $1,632,000. Royal Bank of Canada increased its position in Live Oak Bancshares by 53.3% during the first quarter. Royal Bank of Canada now owns 75,125 shares of the company’s stock worth $2,484,000 after buying an additional 26,116 shares in the last quarter. Empowered Funds LLC increased its position in Live Oak Bancshares by 3.5% during the first quarter. Empowered Funds LLC now owns 89,188 shares of the company’s stock worth $2,949,000 after buying an additional 3,038 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Live Oak Bancshares by 53.2% in the first quarter. Quantinno Capital Management LP now owns 29,691 shares of the company’s stock worth $982,000 after acquiring an additional 10,305 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
LOB has been the subject of a number of research reports. 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 report on Wednesday, July 15th. Piper Sandler raised their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. TD Cowen lifted their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Moderate Buy” and an average price target of $46.20.
Read Our Latest Analysis on LOB
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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