Live Oak Bancshares (NASDAQ:LOB) Reaches New 52-Week High – Should You Buy?
by Sarita Garza · The Markets DailyLive Oak Bancshares, Inc. (NASDAQ:LOB – Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $40.22 and last traded at $42.26, with a volume of 1399 shares. The stock had previously closed at $39.00.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Piper Sandler dropped their target price on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. TD Cowen assumed coverage on shares of Live Oak Bancshares in a report on Wednesday, September 24th. They issued a “buy” rating on the stock. Finally, National Bankshares set a $50.00 price target on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Live Oak Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.
Check Out Our Latest Stock Analysis on LOB
Live Oak Bancshares Trading Up 9.4%
The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 29.41 and a beta of 2.02. The firm has a 50-day moving average of $34.32 and a 200-day moving average of $34.31.
Live Oak Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio is currently 8.05%.
Insider Activity
In other Live Oak Bancshares news, Director Tonya Williams Bradford purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $30.24 per share, for a total transaction of $30,240.00. Following the acquisition, the director owned 6,697 shares in the company, valued at $202,517.28. This represents a 17.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Gregory W. Seward sold 1,200 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $30.20, for a total transaction of $36,240.00. Following the sale, the general counsel owned 106,126 shares of the company’s stock, valued at approximately $3,205,005.20. The trade was a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 23.40% of the company’s stock.
Hedge Funds Weigh In On Live Oak Bancshares
Several institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in Live Oak Bancshares by 60.1% during the third quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock worth $49,000 after buying an additional 512 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Live Oak Bancshares in the third quarter worth about $63,000. Tower Research Capital LLC TRC raised its position in shares of Live Oak Bancshares by 138.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank’s stock worth $95,000 after acquiring an additional 1,850 shares during the period. CWM LLC boosted its stake in shares of Live Oak Bancshares by 1,547.3% during the 2nd quarter. CWM LLC now owns 3,904 shares of the bank’s stock worth $116,000 after acquiring an additional 3,667 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Live Oak Bancshares by 111.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the bank’s stock valued at $184,000 after purchasing an additional 3,248 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.
Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.