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

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s stock price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LOB shares. Truist Financial cut their price objective on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Friday. TheStreet cut Live Oak Bancshares from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target (down from $45.00) on shares of Live Oak Bancshares in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.

Live Oak Bancshares Stock Performance

The stock has a fifty day moving average of $39.24 and a 200 day moving average of $37.36. The company has a market capitalization of $1.49 billion, a PE ratio of 17.23 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data 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 firm had revenue of $119.68 million for the quarter, compared to analysts’ expectations of $119.36 million. Live Oak Bancshares had a return on equity of 10.45% and a net margin of 10.62%. As a group, equities analysts predict that Live Oak Bancshares, Inc. will post 2.22 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, February 26th. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. Live Oak Bancshares’s dividend payout ratio (DPR) is 6.03%.

Insider Transactions at Live Oak Bancshares

In other news, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Micah S. Davis sold 8,613 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now owns 43,864 shares in the company, valued at approximately $1,748,857.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the sale, the director now owns 121,941 shares in the company, 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.

Institutional Trading of Live Oak Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of LOB. SG Americas Securities LLC purchased a new stake in Live Oak Bancshares during the 3rd quarter valued at $420,000. Ballentine Partners LLC bought a new position in Live Oak Bancshares in the 3rd quarter valued at $210,000. Bank of New York Mellon Corp grew its position in Live Oak Bancshares by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock valued at $5,708,000 after acquiring an additional 2,721 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Live Oak Bancshares by 48.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock valued at $177,000 after acquiring an additional 2,002 shares during the last quarter. Finally, Chatham Capital Group Inc. bought a new position in Live Oak Bancshares in the 3rd quarter valued at $1,162,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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.