Live Oak Bancshares (NYSE:LOB) Director William Williams III Sells 1,810 Shares

Key Points

• Director William Williams III sold 1,810 Live Oak Bancshares shares at an average price of $40, generating $72,400. The sale was made under a pre-arranged Rule 10b5-1 plan, leaving him with 1,112,316 shares.
• Live Oak Bancshares shares rose 0.3% to $39.63, while the company’s latest quarterly earnings of $0.74 per share exceeded analysts’ $0.64 estimate. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $46.40.
• The company declared a quarterly dividend of $0.03 per share, equivalent to a 0.3% yield, and institutional investors own approximately 63.95% of the stock.

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) Director William Williams III sold 1,810 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $40.00, for a total transaction of $72,400.00. Following the sale, the director directly owned 1,112,316 shares of the company's stock, valued at approximately $44,492,640. This represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Up 0.3%

Shares of NYSE LOB traded up $0.12 during mid-day trading on Thursday, hitting $39.63. 152,308 shares of the company traded hands, compared to its average volume of 275,359. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $44.53. The business has a 50 day moving average of $41.67 and a two-hundred day moving average of $38.31. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.95 and a beta of 1.86.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. The business 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 11.77%. As a group, research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 1st. Live Oak Bancshares's dividend payout ratio (DPR) is currently 4.23%.

Wall Street Analysts Forecast Growth

LOB has been the topic of several analyst reports. Zacks Research downgraded Live Oak Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday. Keefe, Bruyette & Woods increased their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Cantor Fitzgerald raised their price target on Live Oak Bancshares from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded shares of Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Finally, 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 research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Live Oak Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in shares of Live Oak Bancshares by 4,962.5% during the second quarter. California State Teachers Retirement System now owns 1,668,641 shares of the company's stock worth $68,147,000 after buying an additional 1,635,680 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Live Oak Bancshares by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 16,857 shares of the company's stock worth $688,000 after purchasing an additional 499 shares during the period. Hsbc Holdings PLC acquired a new stake in Live Oak Bancshares during the 2nd quarter worth approximately $326,000. Empowered Funds LLC bought a new stake in shares of Live Oak Bancshares in the second quarter valued at about $3,643,000. Finally, Centaurus Financial Inc. bought a new stake in shares of Live Oak Bancshares in the second quarter valued at approximately $128,000. Institutional investors and hedge funds 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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