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

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. Finally, Truist Financial reduced their price objective on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.25.

Live Oak Bancshares Stock Down 3.5 %

The stock has a 50-day moving average of $34.02 and a 200 day moving average of $38.05. The company has a market capitalization of $1.51 billion, a PE ratio of 16.87 and a beta of 1.62.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.36 earnings per share 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 firm had revenue of $116.21 million for the quarter, compared to the consensus estimate of $118.89 million. Equities analysts forecast that Live Oak Bancshares, Inc. will post 1.93 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Tuesday, June 4th. Live Oak Bancshares’s payout ratio is 6.03%.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director Tonya Williams Bradford sold 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total value of $93,522.00. Following the completion of the transaction, the director now owns 5,870 shares of the company’s stock, valued at approximately $211,143.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 23.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Capital International Investors purchased a new position in Live Oak Bancshares in the 1st quarter worth approximately $18,628,000. Trust Co of the South purchased a new position in shares of Live Oak Bancshares in the fourth quarter worth $15,042,000. Norges Bank bought a new stake in Live Oak Bancshares during the 4th quarter valued at $7,474,000. Mendon Capital Advisors Corp purchased a new position in shares of Live Oak Bancshares in the fourth quarter valued at about $4,550,000. Finally, Homestead Advisers Corp increased its holdings in Live Oak Bancshares by 103.6% during the 4th quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock valued at $5,596,000 after purchasing an additional 62,600 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

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.