Raymond James & Associates Has $4.52 Million Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Raymond James & Associates increased its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 95,483 shares of the bank’s stock after buying an additional 4,271 shares during the quarter. Raymond James & Associates’ holdings in Live Oak Bancshares were worth $4,523,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LOB. Capital International Investors acquired a new position in Live Oak Bancshares in the first quarter worth about $18,628,000. Blue Trust Inc. grew its stake in Live Oak Bancshares by 12,211.1% during the second quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock worth $8,870,000 after buying an additional 250,939 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Live Oak Bancshares by 432.0% during the second quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock worth $2,319,000 after buying an additional 53,700 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Live Oak Bancshares by 3.5% during the second 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. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Live Oak Bancshares during the first quarter worth about $1,350,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

LOB opened at $41.06 on Friday. Live Oak Bancshares, Inc. has a one year low of $29.04 and a one year high of $50.57. The company’s 50 day simple moving average is $45.01 and its 200-day simple moving average is $39.63. The stock has a market capitalization of $1.85 billion, a P/E ratio of 24.98 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.81%. The business had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, analysts anticipate that Live Oak Bancshares, Inc. will post 2.16 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.03 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.29%. Live Oak Bancshares’s dividend payout ratio is currently 7.55%.

Analyst Upgrades and Downgrades

LOB has been the topic of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Truist Financial decreased their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Piper Sandler decreased their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.50.

Insider Activity at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 20,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at approximately $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Henderson Cameron bought 1,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was purchased at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the acquisition, the director now owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by company 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.