Insider Selling: Live Oak Bancshares (NYSE:LOB) Insider Sells 6,100 Shares of Stock

Key Points

• Insider sale: Live Oak Bancshares insider Mark Michael Moroz sold 6,100 shares for approximately $256,688, reducing his direct ownership by 33.5% to 12,110 shares.
• Recent performance: LOB shares fell 0.7% to $42.61, while the company reported quarterly earnings of $0.74 per share, beating estimates by $0.10.
• Analyst outlook: The stock has a consensus “Moderate Buy” rating and an average price target of $46.20, with institutional investors owning 63.95% of outstanding shares.

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) insider Mark Michael Moroz sold 6,100 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total value of $256,688.00. Following the transaction, the insider directly owned 12,110 shares in the company, valued at approximately $509,588.80. This represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Live Oak Bancshares Stock Down 0.7%

Shares of NYSE:LOB traded down $0.31 during midday trading on Wednesday, reaching $42.61. The company's stock had a trading volume of 236,419 shares, compared to its average volume of 288,420. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 15.00 and a beta of 1.88. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $43.85. The business has a 50 day moving average price of $39.75 and a 200 day moving average price of $37.82.

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 firm had revenue of $156.15 million for the quarter. Live Oak Bancshares had a return on equity of 11.95% and a net margin of 12.68%. Sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 3.05 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LOB. Zacks Research upgraded shares of Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Piper Sandler lifted their target price on Live Oak Bancshares from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Cantor Fitzgerald boosted their price target on Live Oak Bancshares from $41.00 to $44.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.20.

Institutional Investors Weigh In On Live Oak Bancshares

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted its position in Live Oak Bancshares by 157.4% during the 4th quarter. Larson Financial Group LLC now owns 1,480 shares of the company's stock worth $51,000 after purchasing an additional 905 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in shares of Live Oak Bancshares in the fourth quarter worth about $55,000. Blue Trust Inc. boosted its position in shares of Live Oak Bancshares by 671.6% in the first 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 grew its stake in shares of Live Oak Bancshares by 138.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company's stock valued at $95,000 after buying an additional 1,850 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Live Oak Bancshares by 15.0% in the fourth quarter. CWM LLC now owns 4,926 shares of the company's stock valued at $169,000 after buying an additional 642 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

About Live Oak Bancshares

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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