John W. Sutherland Sells 12,588 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the completion of the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. This trade represents a 47.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Live Oak Bancshares Trading Down 1.4 %

LOB stock opened at $47.89 on Friday. The firm has a 50 day moving average of $45.87 and a 200-day moving average of $40.39. The firm has a market capitalization of $2.16 billion, a P/E ratio of 30.12 and a beta of 1.63. Live Oak Bancshares, Inc. has a 12 month low of $31.03 and a 12 month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). The firm had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. During the same period in the previous year, the business earned $0.88 earnings per share. Sell-side analysts predict that Live Oak Bancshares, Inc. will post 2.09 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s payout ratio is 7.55%.

Institutional Trading of Live Oak Bancshares

A number of large investors have recently modified their holdings of LOB. Capital International Investors bought a new position in shares of Live Oak Bancshares in the first quarter worth approximately $18,628,000. abrdn plc bought a new position in shares of Live Oak Bancshares in the 3rd quarter worth $14,501,000. Blue Trust Inc. increased its holdings in shares of Live Oak Bancshares by 12,211.1% in the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock worth $8,870,000 after buying an additional 250,939 shares during the last quarter. State Street Corp raised its position in shares of Live Oak Bancshares by 13.4% during the 3rd quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock valued at $52,553,000 after buying an additional 131,343 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Live Oak Bancshares by 82.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 185,309 shares of the bank’s stock worth $8,778,000 after acquiring an additional 83,639 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LOB shares. Piper Sandler reduced their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Finally, Truist Financial lowered their target price on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and a consensus target price of $45.50.

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.