William Williams III Sells 8,400 Shares of Live Oak Bancshares (NYSE:LOB) Stock

Live Oak Bancshares, Inc. (NYSE:LOB) Director William Williams III sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $43.08, for a total transaction of $361,872.00. Following the completion of the transaction, the director directly owned 1,114,126 shares of the company’s stock, valued at approximately $47,996,548.08. The trade was a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Live Oak Bancshares Stock Up 0.3%

Live Oak Bancshares stock traded up $0.13 during mid-day trading on Wednesday, reaching $43.76. 252,826 shares of the company’s stock were exchanged, compared to its average volume of 286,395. Live Oak Bancshares, Inc. has a twelve month low of $29.36 and a twelve month high of $44.53. The company has a market cap of $2.02 billion, a P/E ratio of 15.41 and a beta of 1.87. The company has a fifty day moving average of $40.32 and a 200-day moving average of $38.05.

Live Oak Bancshares (NYSE:LOB) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. The business had revenue of $156.15 million during the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.95%. Equities research analysts expect that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 2nd. Live Oak Bancshares’s dividend payout ratio is currently 4.23%.

Institutional Trading of Live Oak Bancshares

A number of large investors have recently bought and sold shares of LOB. NewEdge Wealth LLC acquired a new stake in shares of Live Oak Bancshares during the fourth quarter worth about $43,261,000. William Blair Investment Management LLC acquired a new position in Live Oak Bancshares in the 4th quarter valued at about $22,278,000. UBS Group AG increased its holdings in shares of Live Oak Bancshares by 29.4% in the fourth quarter. UBS Group AG now owns 160,710 shares of the company’s stock valued at $5,520,000 after purchasing an additional 36,525 shares during the period. Royce & Associates LP acquired a new position in Live Oak Bancshares in the 4th quarter valued at $8,496,000. Finally, WCM Investment Management LLC purchased a new position in Live Oak Bancshares during the 1st quarter worth $4,955,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Wall Street Analysts Forecast Growth

LOB has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Cantor Fitzgerald raised their price objective on Live Oak Bancshares from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Piper Sandler lifted their target price on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, TD Cowen boosted their target price on Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, July 27th. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.20.

Live Oak Bancshares Company Profile

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.