Live Oak Bancshares (NASDAQ:LOB) Trading Down 8.3%

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report)'s stock price fell 8.3% during trading on Wednesday . The stock traded as low as $38.12 and last traded at $38.12. 42,694 shares were traded during mid-day trading, a decline of 74% from the average session volume of 164,059 shares. The stock had previously closed at $41.58.

Analyst Upgrades and Downgrades

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

Live Oak Bancshares Stock Down 8.6 %

The firm's fifty day simple moving average is $39.30 and its 200-day simple moving average is $36.73. The firm has a market capitalization of $1.70 billion, a PE ratio of 23.18 and a beta of 1.60.

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

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares's dividend payout ratio (DPR) is presently 7.32%.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the business'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 transaction, the director now owns 121,941 shares in the company, valued at $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 dated Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the transaction, the insider now directly owns 43,864 shares in the company, valued at $1,748,857.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Miltom Emmett Petty sold 10,000 shares of the company's stock in a transaction dated Thursday, February 29th. The stock was 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 $4,844,715.93. The disclosure for this sale can be found here. 24.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LOB. Envestnet Asset Management Inc. bought a new position in Live Oak Bancshares during the 1st quarter worth about $213,000. JPMorgan Chase & Co. lifted its position in shares of Live Oak Bancshares by 81.3% during the first quarter. JPMorgan Chase & Co. now owns 37,427 shares of the bank's stock valued at $1,904,000 after buying an additional 16,781 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Live Oak Bancshares by 31.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 19,157 shares of the bank's stock valued at $975,000 after purchasing an additional 4,539 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Live Oak Bancshares by 56.2% in the 1st quarter. MetLife Investment Management LLC now owns 17,593 shares of the bank's stock valued at $895,000 after purchasing an additional 6,327 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Live Oak Bancshares by 2.7% in the 1st quarter. Rhumbline Advisers now owns 32,972 shares of the bank's stock valued at $1,678,000 after purchasing an additional 853 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Company Profile

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.