Harbor Capital Advisors Inc. Purchases 1,443 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Harbor Capital Advisors Inc. lifted its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,876 shares of the bank’s stock after purchasing an additional 1,443 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Live Oak Bancshares were worth $515,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LOB. Capital International Investors acquired a new position in shares of Live Oak Bancshares in the 1st quarter valued at $18,628,000. abrdn plc acquired a new stake in Live Oak Bancshares during the third quarter valued at approximately $14,501,000. Blue Trust Inc. grew its stake in shares of Live Oak Bancshares by 12,211.1% in the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after purchasing an additional 250,939 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Live Oak Bancshares by 432.0% in the 2nd 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Live Oak Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after acquiring an additional 48,018 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Trading Up 17.1 %

LOB opened at $49.48 on Thursday. Live Oak Bancshares, Inc. has a 1-year low of $29.26 and a 1-year high of $50.57. The stock has a market capitalization of $2.23 billion, a PE ratio of 31.12 and a beta of 1.63. The firm has a 50-day moving average price of $45.12 and a two-hundred day moving average price of $39.80.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same period in the prior year, the business earned $0.88 EPS. On average, research analysts predict that Live Oak Bancshares, Inc. will post 2.16 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given 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 yield of 0.24%. Live Oak Bancshares’s payout ratio is 7.55%.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director William Henderson Cameron purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average cost of $39.76 per share, with a total value of $39,760.00. Following the completion of the purchase, the director now directly owns 202,217 shares in the company, valued at approximately $8,040,147.92. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the transaction, the director now directly owns 202,217 shares in the company, valued at $8,040,147.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 23.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LOB. Keefe, Bruyette & Woods restated 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 decreased their price objective 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 cut their target price on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 28th. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.