Live Oak Bancshares, Inc. (NASDAQ:LOB) Director Acquires $39,760.00 in Stock

Live Oak Bancshares, Inc. (NASDAQ:LOB) Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were purchased at an average price of $39.76 per share, with a total value of $39,760.00. Following the acquisition, the director now owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Live Oak Bancshares Stock Up 3.4 %

Shares of NASDAQ:LOB opened at $41.06 on Friday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 25.82 and a beta of 1.63. Live Oak Bancshares, Inc. has a 12 month low of $29.04 and a 12 month high of $50.57. The company’s fifty day simple moving average is $45.01 and its 200 day simple moving average is $39.63.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 7.81%. During the same quarter last year, the firm earned $0.88 earnings per share. Research analysts expect that Live Oak Bancshares, Inc. will post 2.16 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.29%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s payout ratio is 7.55%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Live Oak Bancshares

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in Live Oak Bancshares by 15.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,876 shares of the bank’s stock valued at $515,000 after buying an additional 1,443 shares during the last quarter. US Bancorp DE increased its position in shares of Live Oak Bancshares by 136.0% in the third quarter. US Bancorp DE now owns 8,134 shares of the bank’s stock valued at $385,000 after acquiring an additional 4,687 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Live Oak Bancshares by 161.4% during the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after acquiring an additional 1,954 shares in the last quarter. abrdn plc acquired a new position in Live Oak Bancshares during the third quarter valued at approximately $14,501,000. Finally, Arbor Investment Advisors LLC bought a new position in Live Oak Bancshares in the third quarter valued at approximately $219,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.