Live Oak Bancshares, Inc. (NASDAQ:LOB) Holdings Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,799 shares of the bank’s stock after selling 2,272 shares during the quarter. Principal Financial Group Inc.’s holdings in Live Oak Bancshares were worth $1,127,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Live Oak Bancshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock valued at $105,273,000 after acquiring an additional 27,086 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Live Oak Bancshares by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock valued at $54,701,000 after purchasing an additional 15,496 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Live Oak Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after purchasing an additional 48,018 shares during the period. abrdn plc purchased a new position in Live Oak Bancshares in the 3rd quarter worth about $14,501,000. Finally, Blue Trust Inc. raised its holdings in Live Oak Bancshares by 12,211.1% during the 2nd 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 period. 63.95% of the stock is owned by institutional investors and hedge funds.

Live Oak Bancshares Price Performance

Shares of LOB opened at $47.77 on Friday. The business’s 50-day moving average is $46.30 and its 200-day moving average is $40.77. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 30.04 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 released its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The company had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. During the same quarter in the previous year, the company earned $0.88 EPS. Equities research analysts expect that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 7.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on LOB. Piper Sandler dropped 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 report on Friday, October 25th. Truist Financial lowered their price objective on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research report 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.50.

Insider Transactions at Live Oak Bancshares

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