Insider Selling: Live Oak Bancshares (NYSE:LOB) Director Sells $126,390.00 in Stock

Key Points

• Director David Lucht sold 3,000 Live Oak Bancshares shares for $126,390, reducing his direct holdings by 16.11% to 15,623 shares.
• LOB shares traded down 0.7% to $42.61, but the company recently reported quarterly EPS of $0.74, beating analysts’ $0.64 consensus estimate on $156.15 million in revenue.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $46.20, while institutional investors own 63.95% of the stock.

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) Director David Lucht sold 3,000 shares of the business's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $42.13, for a total value of $126,390.00. Following the completion of the sale, the director directly owned 15,623 shares in the company, valued at $658,196.99. This represents a 16.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Live Oak Bancshares Trading Down 0.7%

LOB stock traded down $0.31 during trading hours on Wednesday, hitting $42.61. 236,419 shares of the stock traded hands, compared to its average volume of 288,420. The stock has a 50-day simple moving average of $39.75 and a 200 day simple moving average of $37.82. Live Oak Bancshares, Inc. has a one year low of $29.36 and a one year high of $43.85. The company has a market cap of $1.97 billion, a P/E ratio of 15.00 and a beta of 1.88.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.95% and a net margin of 12.68%.The firm had revenue of $156.15 million for the quarter. Analysts forecast that Live Oak Bancshares, Inc. will post 3.05 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares's payout ratio is currently 4.23%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Live Oak Bancshares by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company's stock valued at $92,835,000 after acquiring an additional 17,181 shares during the period. Dimensional Fund Advisors LP boosted its stake in Live Oak Bancshares by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company's stock worth $52,685,000 after purchasing an additional 54,750 shares during the period. State Street Corp boosted its stake in Live Oak Bancshares by 5.1% in the 4th quarter. State Street Corp now owns 1,308,462 shares of the company's stock worth $44,946,000 after purchasing an additional 63,325 shares during the period. NewEdge Wealth LLC purchased a new position in Live Oak Bancshares during the 4th quarter worth approximately $43,261,000. Finally, Southernsun Asset Management LLC grew its position in Live Oak Bancshares by 0.4% during the 1st quarter. Southernsun Asset Management LLC now owns 1,033,539 shares of the company's stock worth $34,179,000 after purchasing an additional 4,431 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LOB shares. Keefe, Bruyette & Woods raised their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. TD Cowen upped their price target on Live Oak Bancshares from $47.00 to $49.00 and gave the company a "buy" rating in a report on Monday. Weiss Ratings upgraded Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. Zacks Research raised Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald lifted their target price on Live Oak Bancshares from $41.00 to $44.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Live Oak Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.20.

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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