Wealth Enhancement Advisory Services LLC Lowers Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 29.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,811 shares of the bank’s stock after selling 8,180 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Live Oak Bancshares were worth $938,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Hawaiian Bank acquired a new position in shares of Live Oak Bancshares during the second quarter worth $542,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Live Oak Bancshares during the first quarter worth $1,350,000. Vanguard Group Inc. increased its position in shares of Live Oak Bancshares by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock worth $105,273,000 after purchasing an additional 27,086 shares in the last quarter. Capital International Investors acquired a new position in shares of Live Oak Bancshares during the first quarter worth $18,628,000. Finally, Russell Investments Group Ltd. increased its position in shares of Live Oak Bancshares by 1.7% during the first quarter. Russell Investments Group Ltd. now owns 118,609 shares of the bank’s stock worth $4,923,000 after purchasing an additional 1,961 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 20,000 shares of the firm’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 transaction of $860,000.00. Following the completion of the sale, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William Henderson Cameron bought 1,000 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.90% of the company’s stock.

Live Oak Bancshares Trading Up 3.5 %

Shares of Live Oak Bancshares stock opened at $42.26 on Wednesday. The firm has a market capitalization of $1.90 billion, a PE ratio of 25.68 and a beta of 1.63. Live Oak Bancshares, Inc. has a twelve month low of $29.26 and a twelve month high of $50.57. The firm’s 50-day moving average price is $44.97 and its 200 day moving average price is $39.70.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The business had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.81%. During the same quarter in the previous year, the company posted $0.88 EPS. On average, sell-side analysts predict that Live Oak Bancshares, Inc. will post 2.16 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.28%. Live Oak Bancshares’s dividend payout ratio is currently 7.55%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Piper Sandler lowered their target price 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. Finally, Truist Financial lowered their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.50.

Live Oak Bancshares 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.