Courtney Spencer Sells 9,700 Shares of Live Oak Bancshares (NASDAQ:LOB) Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) insider Courtney Spencer sold 9,700 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $39.01, for a total transaction of $378,397.00. Following the transaction, the insider owned 25,160 shares in the company, valued at $981,491.60. This represents a 27.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Live Oak Bancshares Price Performance

LOB opened at $39.51 on Friday. The business has a 50 day moving average price of $35.41 and a two-hundred day moving average price of $34.59. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 27.25 and a beta of 2.02. Live Oak Bancshares, Inc. has a 1-year low of $22.68 and a 1-year high of $42.89.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio (DPR) is 5.41%.

Hedge Funds Weigh In On Live Oak Bancshares

A number of institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its holdings in shares of Live Oak Bancshares by 60.1% in the third quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock worth $49,000 after buying an additional 512 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Live Oak Bancshares during the third quarter valued at approximately $63,000. Tower Research Capital LLC TRC boosted its stake in Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank’s stock worth $95,000 after purchasing an additional 1,850 shares during the period. CWM LLC boosted its stake in Live Oak Bancshares by 1,547.3% in the 2nd quarter. CWM LLC now owns 3,904 shares of the bank’s stock worth $116,000 after purchasing an additional 3,667 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in Live Oak Bancshares by 111.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the bank’s stock worth $184,000 after purchasing an additional 3,248 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their target price on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Live Oak Bancshares has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.