Apollon Wealth Management LLC Acquires Shares of 4,883 Live Oak Bancshares, Inc. (NASDAQ:LOB)

Apollon Wealth Management LLC acquired a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,883 shares of the bank’s stock, valued at approximately $231,000.

A number of other institutional investors also recently added to or reduced their stakes in LOB. Harbor Capital Advisors Inc. boosted its stake in shares of Live Oak Bancshares by 15.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,876 shares of the bank’s stock worth $515,000 after acquiring an additional 1,443 shares in the last quarter. US Bancorp DE boosted its stake in shares of Live Oak Bancshares by 136.0% during the 3rd quarter. US Bancorp DE now owns 8,134 shares of the bank’s stock worth $385,000 after acquiring an additional 4,687 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Live Oak Bancshares by 161.4% during the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after acquiring an additional 1,954 shares in the last quarter. abrdn plc purchased a new stake in shares of Live Oak Bancshares during the 3rd quarter worth approximately $14,501,000. Finally, Arbor Investment Advisors LLC purchased a new stake in shares of Live Oak Bancshares during the 3rd quarter worth approximately $219,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Performance

Shares of LOB opened at $47.79 on Tuesday. The stock has a fifty day moving average of $45.99 and a two-hundred day moving average of $40.53. The company has a market capitalization of $2.15 billion, a PE ratio of 30.06 and a beta of 1.63. Live Oak Bancshares, Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $50.57.

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 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 7.65%. The business had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, equities research analysts forecast that Live Oak Bancshares, Inc. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on LOB. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Truist Financial cut their price objective on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Piper Sandler cut their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.50.

Insider Activity

In other Live Oak Bancshares news, Director William Henderson Cameron purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, with a total value of $39,760.00. Following the transaction, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John W. Sutherland sold 12,588 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company’s stock.

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.