Benjamin Edwards Inc. Takes $166,000 Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Benjamin Edwards Inc. purchased a new position in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 4,740 shares of the bank’s stock, valued at approximately $166,000.

Other large investors also recently bought and sold shares of the company. Inspire Investing LLC grew its holdings in Live Oak Bancshares by 16.4% in the second quarter. Inspire Investing LLC now owns 10,086 shares of the bank’s stock worth $354,000 after purchasing an additional 1,424 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Live Oak Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after buying an additional 48,018 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Live Oak Bancshares by 432.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock valued at $2,319,000 after buying an additional 53,700 shares in the last quarter. Quest Partners LLC raised its stake in Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after buying an additional 823 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Live Oak Bancshares by 15.2% during the second quarter. Principal Financial Group Inc. now owns 26,071 shares of the bank’s stock valued at $914,000 after buying an additional 3,441 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $48.89 on Friday. Live Oak Bancshares, Inc. has a one year low of $26.11 and a one year high of $50.57. The stock has a 50-day moving average of $42.53 and a 200 day moving average of $38.38. The company has a market capitalization 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 data on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.13. The firm had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. During the same period in the previous year, the company earned $0.39 earnings per share. On average, equities analysts predict 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. Stockholders of record on Tuesday, September 3rd were paid a $0.03 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 6.03%.

Insider Buying and Selling

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at $1,143,929. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 23.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial raised their price target on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. reduced 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 note on Thursday, June 27th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Piper Sandler raised their price target on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and a consensus price target of $48.75.

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.