Live Oak Bancshares, Inc. (LOB) Director Diane Beth Glossman Acquires 2,000 Shares

Live Oak Bancshares, Inc. (NASDAQ:LOB) Director Diane Beth Glossman purchased 2,000 shares of Live Oak Bancshares stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $23.07 per share, for a total transaction of $46,140.00. Following the transaction, the director now directly owns 26,892 shares of the company’s stock, valued at $620,398.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Live Oak Bancshares, Inc. (LOB) traded up 0.86% during trading on Wednesday, hitting $23.45. 69,380 shares of the company traded hands. The company has a market capitalization of $812.87 million, a price-to-earnings ratio of 33.89 and a beta of -0.15. The company has a 50 day moving average price of $24.50 and a 200 day moving average price of $23.45. Live Oak Bancshares, Inc. has a 52 week low of $13.23 and a 52 week high of $26.05.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Live Oak Bancshares had a net margin of 13.71% and a return on equity of 11.50%. The company had revenue of $45.06 million during the quarter, compared to analyst estimates of $45.92 million. On average, analysts expect that Live Oak Bancshares, Inc. will post $0.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be issued a dividend of $0.03 per share. This is a positive change from Live Oak Bancshares’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.12 dividend on an annualized basis and a yield of 0.52%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 11.43%.

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A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of Live Oak Bancshares by 3.5% in the first quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock worth $118,000 after buying an additional 185 shares during the last quarter. Credit Suisse AG raised its stake in shares of Live Oak Bancshares by 2.0% in the first quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock worth $231,000 after buying an additional 207 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Live Oak Bancshares by 1.1% in the second quarter. TIAA CREF Investment Management LLC now owns 56,458 shares of the bank’s stock worth $1,366,000 after buying an additional 631 shares during the last quarter. American International Group Inc. raised its stake in shares of Live Oak Bancshares by 7.0% in the first quarter. American International Group Inc. now owns 12,038 shares of the bank’s stock worth $261,000 after buying an additional 791 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Live Oak Bancshares by 4.7% in the second quarter. Rhumbline Advisers now owns 20,994 shares of the bank’s stock worth $508,000 after buying an additional 945 shares during the last quarter. Institutional investors own 36.10% of the company’s stock.

LOB has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Friday, May 12th. TheStreet upgraded shares of Live Oak Bancshares from a “c” rating to a “b-” rating in a research report on Monday, July 24th.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).

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