Barrow Hanley Mewhinney & Strauss LLC Has $54.70 Million Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,560,218 shares of the bank’s stock after buying an additional 15,496 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 3.47% of Live Oak Bancshares worth $54,701,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LOB. Charles Schwab Investment Management Inc. lifted its holdings in Live Oak Bancshares by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 259,231 shares of the bank’s stock valued at $11,795,000 after purchasing an additional 2,979 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 worth $60,415,000 after acquiring an additional 61,029 shares during the last quarter. Norges Bank acquired a new stake in Live Oak Bancshares during the 4th quarter valued at $7,474,000. Quest Partners LLC bought a new position in Live Oak Bancshares in the 4th quarter valued at $391,000. Finally, Rafferty Asset Management LLC boosted its stake in Live Oak Bancshares by 18.5% in the fourth quarter. Rafferty Asset Management LLC now owns 35,987 shares of the bank’s stock worth $1,637,000 after purchasing an additional 5,620 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 1.7 %

Shares of NASDAQ LOB opened at $48.89 on Friday. Live Oak Bancshares, Inc. has a 1 year low of $26.11 and a 1 year high of $50.57. The firm’s 50-day moving average is $42.53 and its 200-day moving average is $38.38. The firm has a market capitalization of $2.20 billion, a PE ratio of 24.57 and a beta of 1.60.

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

Live Oak Bancshares Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Piper Sandler boosted their target price on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Truist Financial increased their price target on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Hold” and a consensus target price of $48.75.

Insider Buying and Selling

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company’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 value of $860,000.00. Following the completion of the sale, 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 can be accessed through the SEC website. 23.90% of the stock is owned by insiders.

Live Oak Bancshares Company Profile

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.