Live Oak Bancshares, Inc. (LOB) Director Purchases $46,140.00 in Stock
Live Oak Bancshares, Inc. (NASDAQ:LOB) Director Diane Beth Glossman acquired 2,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $23.07 per share, with a total value of $46,140.00. Following the completion of the purchase, the director now directly owns 26,892 shares in the company, valued at $620,398.44. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of Live Oak Bancshares, Inc. (NASDAQ LOB) traded down 1.06% during trading on Tuesday, hitting $23.25. 285,875 shares of the company’s stock were exchanged. Live Oak Bancshares, Inc. has a 12-month low of $13.23 and a 12-month high of $26.05. The company has a 50-day moving average of $24.52 and a 200-day moving average of $23.43. The company has a market cap of $805.94 million, a P/E ratio of 33.60 and a beta of -0.15.
Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. Live Oak Bancshares had a net margin of 13.71% and a return on equity of 11.50%. The firm had revenue of $45.06 million during the quarter, compared to analyst estimates of $45.92 million. On average, equities analysts expect that Live Oak Bancshares, Inc. will post $0.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Thursday, August 17th. This is a positive change from Live Oak Bancshares’s previous quarterly dividend of $0.02. Live Oak Bancshares’s dividend payout ratio (DPR) is 11.43%.
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A number of brokerages have commented on LOB. Zacks Investment Research cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet raised shares of Live Oak Bancshares from a “c” rating to a “b-” rating in a research note on Monday, July 24th.
A number of hedge funds and other institutional investors have recently made changes to their positions in LOB. US Bancorp DE raised its position in shares of Live Oak Bancshares by 77.5% in the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock valued at $100,000 after buying an additional 2,014 shares during the period. Bank of America Corp DE raised its position in shares of Live Oak Bancshares by 3.5% in the first quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock valued at $118,000 after buying an additional 185 shares during the period. California Public Employees Retirement System bought a new position in shares of Live Oak Bancshares during the first quarter valued at $223,000. Profit Investment Management LLC bought a new position in shares of Live Oak Bancshares during the second quarter valued at $226,000. Finally, Credit Suisse AG raised its position in shares of Live Oak Bancshares by 2.0% in the first quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock valued at $231,000 after buying an additional 207 shares during the period. 36.10% of the stock is owned by institutional investors.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).
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