Live Oak Bancshares (NASDAQ:LOB) Shares Down 2.8%

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) fell 2.8% during mid-day trading on Wednesday . The stock traded as low as $33.69 and last traded at $33.82. 51,481 shares changed hands during trading, a decline of 70% from the average session volume of 170,011 shares. The stock had previously closed at $34.78.

Analyst Ratings Changes

LOB has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 target price (down from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. JPMorgan Chase & Co. cut their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Finally, Truist Financial reduced 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, April 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Live Oak Bancshares has a consensus rating of “Hold” and an average price target of $39.25.

Live Oak Bancshares Price Performance

The stock has a 50 day simple moving average of $34.02 and a two-hundred day simple moving average of $38.05. The company has a market cap of $1.51 billion, a PE ratio of 16.87 and a beta of 1.62.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.12). Live Oak Bancshares had a return on equity of 10.25% and a net margin of 10.62%. The company had revenue of $116.21 million for the quarter, compared to analysts’ expectations of $118.89 million. As a group, equities analysts anticipate that Live Oak Bancshares, Inc. will post 1.93 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Tuesday, June 4th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Insider Transactions at Live Oak Bancshares

In other news, Director Tonya Williams Bradford sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total transaction of $93,522.00. Following the completion of the sale, the director now owns 5,870 shares in the company, valued at $211,143.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LOB. Capital International Investors purchased a new position in Live Oak Bancshares in the first quarter worth $18,628,000. Trust Co of the South purchased a new position in Live Oak Bancshares in the fourth quarter worth $15,042,000. Norges Bank purchased a new position in Live Oak Bancshares in the fourth quarter worth $7,474,000. Mendon Capital Advisors Corp purchased a new position in Live Oak Bancshares in the fourth quarter worth $4,550,000. Finally, Homestead Advisers Corp raised its position in Live Oak Bancshares by 103.6% in the fourth quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock worth $5,596,000 after acquiring an additional 62,600 shares in the last quarter. 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.