Rhumbline Advisers Sells 3,448 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Rhumbline Advisers lessened its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 6.4% during the second quarter, Holdings Channel.com reports. The fund owned 50,785 shares of the bank’s stock after selling 3,448 shares during the period. Rhumbline Advisers’ holdings in Live Oak Bancshares were worth $1,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital International Investors acquired a new stake in shares of Live Oak Bancshares during the 1st quarter valued at $18,628,000. Blue Trust Inc. increased its position in Live Oak Bancshares by 12,211.1% in the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after buying an additional 250,939 shares in the last quarter. Norges Bank acquired a new position in Live Oak Bancshares during the 4th quarter valued at about $7,474,000. Homestead Advisers Corp boosted its stake 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Live Oak Bancshares by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock valued at $60,415,000 after purchasing an additional 61,029 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

Analyst Ratings Changes

LOB has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Piper Sandler upped their price target on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their target price on 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.75.

Live Oak Bancshares Stock Down 1.7 %

NASDAQ LOB opened at $48.89 on Friday. The company has a 50-day simple moving average of $42.53 and a two-hundred day simple moving average of $38.39. Live Oak Bancshares, Inc. has a 12-month low of $26.11 and a 12-month high of $50.57. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 24.57 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The company had revenue of $232.61 million during the quarter, compared to the consensus estimate of $123.08 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities analysts expect that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is 6.03%.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at $1,143,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.90% 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.