Inspire Investing LLC Sells 1,414 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Inspire Investing LLC decreased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,672 shares of the bank’s stock after selling 1,414 shares during the quarter. Inspire Investing LLC’s holdings in Live Oak Bancshares were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB bought a new stake in shares of Live Oak Bancshares in the 3rd quarter worth about $265,000. Park Avenue Securities LLC purchased a new position in Live Oak Bancshares in the third quarter worth about $205,000. SG Americas Securities LLC increased its stake in Live Oak Bancshares by 127.5% during the third quarter. SG Americas Securities LLC now owns 14,293 shares of the bank’s stock worth $677,000 after acquiring an additional 8,011 shares during the last quarter. Centaurus Financial Inc. raised its position in Live Oak Bancshares by 49.4% during the second quarter. Centaurus Financial Inc. now owns 11,453 shares of the bank’s stock valued at $402,000 after purchasing an additional 3,788 shares during the period. Finally, Truist Financial Corp bought a new stake in shares of Live Oak Bancshares in the 2nd quarter valued at approximately $312,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Trading Up 0.7 %

NASDAQ LOB opened at $50.20 on Friday. Live Oak Bancshares, Inc. has a 12 month low of $26.11 and a 12 month high of $50.57. The company’s 50-day moving average price is $44.20 and its 200-day moving average price is $39.28. The stock has a market cap of $2.26 billion, a PE ratio of 25.23 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, July 24th. The bank reported $0.59 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 business had revenue of $232.61 million for the quarter, compared to the consensus estimate of $123.08 million. During the same period in the prior year, the firm earned $0.39 EPS. As a group, sell-side analysts forecast that Live Oak Bancshares, Inc. will post 2.31 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.24%. Live Oak Bancshares’s payout ratio is currently 6.03%.

Wall Street Analysts Forecast Growth

LOB has been the topic of several analyst reports. Truist Financial boosted their target price on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods reissued 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. Piper Sandler lifted their price target 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.75.

Insiders Place Their Bets

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 shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the transaction, the chief accounting officer now directly owns 26,603 shares in the company, valued at $1,143,929. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.