William Williams III Sells 8,400 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 8,400 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $41.61, for a total transaction of $349,524.00. Following the transaction, the director directly owned 1,122,526 shares in the company, valued at approximately $46,708,306.86. This represents a 0.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Trading Down 1.6%

Shares of Live Oak Bancshares stock opened at $41.15 on Wednesday. The business’s fifty day moving average price is $38.30 and its 200 day moving average price is $37.15. Live Oak Bancshares, Inc. has a twelve month low of $29.36 and a twelve month high of $42.89. The stock has a market capitalization of $1.90 billion, a P/E ratio of 15.77 and a beta of 1.88.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. The company had revenue of $145.47 million during the quarter, compared to analyst estimates of $146.02 million. Live Oak Bancshares had a return on equity of 11.18% and a net margin of 11.79%. As a group, sell-side analysts predict that Live Oak Bancshares, Inc. will post 2.95 EPS for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a $0.03 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.12 annualized dividend and a yield of 0.3%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.60%.

Analyst Upgrades and Downgrades

LOB has been the subject of several recent research reports. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Weiss Ratings upgraded shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. TD Cowen decreased their price target on shares of Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Keefe, Bruyette & Woods lowered their price target on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Finally, 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 report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $44.40.

Institutional Trading of Live Oak Bancshares

Hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of Live Oak Bancshares by 157.4% in 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 stake in Live Oak Bancshares during the 4th quarter worth $55,000. Blue Trust Inc. increased its stake in Live Oak Bancshares by 671.6% during the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock worth $70,000 after buying an additional 1,847 shares during the period. Tower Research Capital LLC TRC lifted its holdings 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 worth $95,000 after buying an additional 1,850 shares in the last quarter. Finally, CWM LLC lifted its holdings 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 buying an additional 642 shares in the last quarter. Hedge funds and other 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.