Live Oak Bancshares (NASDAQ:LOB) Shares Gap Down to $39.87

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $39.87, but opened at $36.04. Live Oak Bancshares shares last traded at $35.00, with a volume of 84,586 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on LOB. TheStreet lowered shares of Live Oak Bancshares from a "b-" rating to a "c+" rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods increased their price objective on shares of Live Oak Bancshares from $43.00 to $45.00 and gave the company a "market perform" rating in a report on Friday, January 26th. StockNews.com lowered shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, December 27th. Finally, Truist Financial reaffirmed a "buy" rating and set a $47.00 price objective on shares of Live Oak Bancshares in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $41.50.

Live Oak Bancshares Price Performance

The stock's fifty day simple moving average is $39.36 and its 200-day simple moving average is $37.39. The firm has a market cap of $1.53 billion, a PE ratio of 20.90 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last announced its earnings results on Wednesday, January 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.20). The company had revenue of $119.68 million during the quarter, compared to analyst estimates of $119.36 million. Live Oak Bancshares had a net margin of 9.24% and a return on equity of 8.67%. Analysts expect that Live Oak Bancshares, Inc. will post 2.22 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares's dividend payout ratio (DPR) is 7.32%.

Insider Activity

In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the transaction, the director now owns 121,941 shares in the company, valued at approximately $4,844,715.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Micah S. Davis sold 8,613 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the transaction, the insider now owns 43,864 shares in the company, valued at approximately $1,748,857.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Miltom Emmett Petty sold 10,000 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now owns 121,941 shares of the company's stock, valued at approximately $4,844,715.93. The disclosure for this sale can be found here. Insiders own 23.90% of the company's stock.

Hedge Funds Weigh In On Live Oak Bancshares

Large investors have recently bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Live Oak Bancshares by 1.0% in the 4th quarter. Signaturefd LLC now owns 28,333 shares of the bank's stock valued at $1,289,000 after purchasing an additional 294 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Live Oak Bancshares by 10.7% during the 1st quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank's stock worth $138,000 after purchasing an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Live Oak Bancshares by 66.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank's stock worth $40,000 after acquiring an additional 551 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Live Oak Bancshares by 4.5% in the first quarter. Parsons Capital Management Inc. RI now owns 13,800 shares of the bank's stock worth $573,000 after acquiring an additional 600 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Live Oak Bancshares in the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 63.95% of the company's stock.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.