Insider Selling: Live Oak Bancshares (NYSE:LOB) Director Sells 2,000 Shares of Stock

Key Points

• Director David Lucht sold 2,000 Live Oak Bancshares shares at an average price of $44.36, generating $88,720 and reducing his position by 12.8%.
• Live Oak Bancshares reported quarterly EPS of $0.74, beating estimates of $0.64, on revenue of $156.15 million. The stock recently traded at $43.76, near its 52-week high of $44.53.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $46.20, while institutional investors own 63.95% of the company’s shares.

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) Director David Lucht sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total value of $88,720.00. Following the sale, the director owned 13,623 shares of the company's stock, valued at approximately $604,316.28. The trade was a 12.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Live Oak Bancshares Stock Up 0.3%

Live Oak Bancshares stock traded up $0.13 during mid-day trading on Wednesday, hitting $43.76. The company had a trading volume of 252,826 shares, compared to its average volume of 286,395. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $44.53. The business has a fifty day moving average of $40.32 and a 200 day moving average of $38.05. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 15.41 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. The business had revenue of $156.15 million during the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. Equities analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. NewEdge Wealth LLC acquired a new stake in shares of Live Oak Bancshares during the fourth quarter worth about $43,261,000. William Blair Investment Management LLC purchased a new position in shares of Live Oak Bancshares during the fourth quarter worth about $22,278,000. Millennium Management LLC increased its position in Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company's stock valued at $18,339,000 after acquiring an additional 596,841 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Live Oak Bancshares during the 4th quarter valued at approximately $19,181,000. Finally, Ameriprise Financial Inc. lifted its position in Live Oak Bancshares by 366.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 519,957 shares of the company's stock worth $18,313,000 after acquiring an additional 408,591 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LOB has been the topic of a number of research analyst reports. Zacks Research upgraded Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Piper Sandler upped their target price 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. Keefe, Bruyette & Woods raised their price target 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. TD Cowen lifted their price target 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. Finally, Weiss Ratings upgraded Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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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