Insider Buying: Live Oak Bancshares Inc (LOB) Vice Chairman Acquires $297,200.00 in Stock

Live Oak Bancshares Inc (NASDAQ:LOB) Vice Chairman William L. Williams III acquired 20,000 shares of the stock in a transaction on Wednesday, December 12th. The shares were acquired at an average price of $14.86 per share, for a total transaction of $297,200.00. Following the acquisition, the insider now owns 46,100 shares of the company’s stock, valued at approximately $685,046. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of LOB stock opened at $14.84 on Friday. The stock has a market capitalization of $595.77 million, a PE ratio of 10.10 and a beta of 0.78. Live Oak Bancshares Inc has a one year low of $13.46 and a one year high of $32.95.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, October 24th. The bank reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The company had revenue of $52.06 million during the quarter, compared to the consensus estimate of $58.79 million. Live Oak Bancshares had a net margin of 34.19% and a return on equity of 13.29%. As a group, sell-side analysts expect that Live Oak Bancshares Inc will post 1.17 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.12 annualized dividend and a yield of 0.81%. Live Oak Bancshares’s payout ratio is currently 9.60%.

Several analysts have recently commented on the stock. BidaskClub downgraded shares of Live Oak Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, August 18th. Zacks Investment Research upgraded shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 26th. ValuEngine downgraded shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. SunTrust Banks lowered their target price on shares of Live Oak Bancshares from $32.00 to $23.00 and set a “buy” rating for the company in a report on Monday, October 29th. Finally, Sandler O’Neill upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $22.00.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new position in Live Oak Bancshares during the third quarter valued at about $107,000. NJ State Employees Deferred Compensation Plan bought a new position in Live Oak Bancshares during the third quarter valued at about $268,000. MetLife Investment Advisors LLC grew its position in Live Oak Bancshares by 35.0% during the second quarter. MetLife Investment Advisors LLC now owns 14,028 shares of the bank’s stock valued at $430,000 after buying an additional 3,640 shares during the period. OppenheimerFunds Inc. bought a new position in Live Oak Bancshares during the second quarter valued at about $448,000. Finally, Engineers Gate Manager LP bought a new position in Live Oak Bancshares during the second quarter valued at about $460,000. Institutional investors own 47.57% of the company’s stock.

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Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for the Live Oak Banking Company that provides various commercial banking products and services to individuals and businesses in North Carolina. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, saving, and time deposits.

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