Algert Global LLC Sells 428 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Algert Global LLC trimmed its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,261 shares of the bank’s stock after selling 428 shares during the quarter. Algert Global LLC owned 0.21% of Live Oak Bancshares worth $3,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOB. Norges Bank bought a new position in shares of Live Oak Bancshares during the 4th quarter valued at about $7,474,000. Rafferty Asset Management LLC raised its holdings in Live Oak Bancshares by 18.5% during the 4th quarter. Rafferty Asset Management LLC now owns 35,987 shares of the bank’s stock worth $1,637,000 after buying an additional 5,620 shares during the period. Edge Capital Group LLC bought a new position in Live Oak Bancshares in the fourth quarter valued at approximately $201,000. Homestead Advisers Corp boosted its holdings in shares of Live Oak Bancshares by 103.6% in the fourth quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock valued at $5,596,000 after buying an additional 62,600 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Live Oak Bancshares by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,509,008 shares of the bank’s stock worth $114,160,000 after acquiring an additional 27,451 shares in the last quarter. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Trading Down 2.4 %

Shares of LOB stock opened at $46.21 on Wednesday. The firm’s fifty day moving average price is $43.19 and its two-hundred day moving average price is $38.69. Live Oak Bancshares, Inc. has a 1 year low of $26.11 and a 1 year high of $50.57. The firm has a market capitalization of $2.08 billion, a P/E ratio of 23.22 and a beta of 1.60.

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

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s payout ratio is presently 6.03%.

Insider Activity

In other news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction dated 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 transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LOB shares. Piper Sandler boosted their price objective 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Truist Financial upped their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares currently has a consensus rating of “Hold” and an average target price of $48.75.

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.