Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 62.8% during the third quarter, HoldingsChannel reports. The fund owned 7,717 shares of the bank’s stock after purchasing an additional 2,977 shares during the period. Benjamin Edwards Inc.’s holdings in Live Oak Bancshares were worth $366,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. abrdn plc purchased a new position in Live Oak Bancshares in the third quarter valued at approximately $14,501,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Live Oak Bancshares by 1.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock valued at $54,701,000 after buying an additional 15,496 shares during the last quarter. Quest Partners LLC raised its stake in Live Oak Bancshares by 746.3% during the 3rd quarter. Quest Partners LLC now owns 17,146 shares of the bank’s stock worth $812,000 after acquiring an additional 15,120 shares in the last quarter. Sei Investments Co. lifted its position in Live Oak Bancshares by 268.1% in the second quarter. Sei Investments Co. now owns 22,630 shares of the bank’s stock valued at $793,000 after acquiring an additional 16,482 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Live Oak Bancshares by 432.0% in the second quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock valued at $2,319,000 after acquiring an additional 53,700 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron acquired 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 transaction, the director now owns 202,217 shares of the company’s stock, valued at $8,040,147.92. The trade was a 0.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of the business’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 owns 14,015 shares in the company, valued at $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.90% of the stock is owned by insiders.

Live Oak Bancshares Trading Down 2.4 %

Live Oak Bancshares stock opened at $45.30 on Tuesday. Live Oak Bancshares, Inc. has a twelve month low of $31.03 and a twelve month high of $50.57. The stock has a 50 day moving average of $46.16 and a two-hundred day moving average of $41.75. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 28.49 and a beta of 1.66.

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 return on equity of 7.65% and a net margin of 7.99%. The company had revenue of $241.87 million for the quarter, compared to analyst estimates of $126.63 million. During the same period in the prior year, the business earned $0.88 earnings per share. Equities analysts predict that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.12 annualized dividend and a yield of 0.26%. Live Oak Bancshares’s dividend payout ratio is currently 7.55%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LOB. Truist Financial reduced their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. Piper Sandler decreased their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a 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 assigned a buy rating to the company’s stock. According to 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.