Renato Derraik Sells 75,000 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Key Points

• Renato Derraik sold 75,000 shares of Live Oak Bancshares on April 30 at an average price of $37.83, generating about $2.84 million and cutting his stake by 94.65 to 4,243 shares.
• Live Oak (NYSE:LOB) reported $0.60 EPS for the quarter (beating estimates), trades near $36.75 with a ~$1.69B market cap and a $0.03 quarterly dividend (0.3% yield), while analysts remain mixed with an average target of $44.40.

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) insider Renato Derraik sold 75,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the completion of the sale, the insider directly owned 4,243 shares in the company, valued at approximately $160,512.69. The trade was a 94.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Live Oak Bancshares Price Performance

LOB traded down $0.42 during midday trading on Monday, reaching $36.75. 177,767 shares of the company's stock were exchanged, compared to its average volume of 307,964. The stock has a market capitalization of $1.69 billion, a PE ratio of 14.08 and a beta of 1.92. The business's 50-day moving average price is $35.23 and its 200 day moving average price is $35.30. Live Oak Bancshares, Inc. has a 1-year low of $25.53 and a 1-year high of $42.89.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.36%. The business had revenue of $145.47 million for the quarter, compared to analyst estimates of $146.02 million. As a group, analysts expect that Live Oak Bancshares, Inc. will post 2.95 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, March 5th. Live Oak Bancshares's dividend payout ratio is 4.60%.

Hedge Funds Weigh In On Live Oak Bancshares

Several large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake in Live Oak Bancshares by 60.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,364 shares of the company's stock worth $49,000 after buying an additional 512 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Live Oak Bancshares by 157.4% during the 4th quarter. Larson Financial Group LLC now owns 1,480 shares of the company's stock valued at $51,000 after acquiring an additional 905 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Live Oak Bancshares during the 4th quarter worth about $55,000. State of Alaska Department of Revenue purchased a new position in shares of Live Oak Bancshares during the 3rd quarter worth about $63,000. Finally, 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 acquiring an additional 1,847 shares during the last quarter. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LOB shares. Zacks Research upgraded Live Oak Bancshares from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. Weiss Ratings raised shares of Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, April 21st. Piper Sandler upped their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, April 27th. TD Cowen decreased their price target on shares of Live Oak Bancshares from $51.00 to $47.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Live Oak Bancshares from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $44.40.

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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