Live Oak Bancshares (NASDAQ:LOB) Shares Gap Down – Time to Sell?

Live Oak Bancshares, Inc. (NASDAQ:LOB) shares gapped down before the market opened on Thursday . The stock had previously closed at $40.76, but opened at $38.00. Live Oak Bancshares shares last traded at $35.00, with a volume of 42,672 shares changing hands.

Analyst Upgrades and Downgrades

LOB has been the subject of a number of research analyst reports. Piper Sandler cut their price objective 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 cut their target price on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.50.

Live Oak Bancshares Price Performance

The company has a market capitalization of $1.61 billion, a P/E ratio of 22.39 and a beta of 1.69. The business has a 50-day moving average of $42.78 and a 200-day moving average of $43.23.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The company had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. During the same quarter in the prior year, the business earned $0.88 earnings per share. Sell-side analysts predict that Live Oak Bancshares, Inc. will post 1.65 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.34%. Live Oak Bancshares’s dividend payout ratio (DPR) is 7.55%.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the purchase, the director now owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the business’s 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 sale, the chief accounting officer now owns 14,015 shares in the company, valued at $686,735. The trade was a 47.32 % decrease in their position. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Live Oak Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in Live Oak Bancshares by 432.0% in the second quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock valued at $2,319,000 after acquiring an additional 53,700 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Live Oak Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after buying an additional 48,018 shares during the period. Sei Investments Co. raised its stake in shares of Live Oak Bancshares by 268.1% during the 2nd quarter. Sei Investments Co. now owns 22,630 shares of the bank’s stock worth $793,000 after buying an additional 16,482 shares during the period. Squarepoint Ops LLC raised its stake in shares of Live Oak Bancshares by 32.0% during the 2nd quarter. Squarepoint Ops LLC now owns 14,848 shares of the bank’s stock worth $521,000 after buying an additional 3,596 shares during the period. Finally, Truist Financial Corp acquired a new position in shares of Live Oak Bancshares during the 2nd quarter worth approximately $312,000. 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.