MML Investors Services LLC Acquires 1,293 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

MML Investors Services LLC boosted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,966 shares of the bank’s stock after purchasing an additional 1,293 shares during the period. MML Investors Services LLC’s holdings in Live Oak Bancshares were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. abrdn plc acquired a new position in shares of Live Oak Bancshares during the 3rd quarter worth approximately $14,501,000. State Street Corp increased its holdings in Live Oak Bancshares by 13.4% during the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock worth $52,553,000 after buying an additional 131,343 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Live Oak Bancshares by 82.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 185,309 shares of the bank’s stock worth $8,778,000 after acquiring an additional 83,639 shares in the last quarter. Envestnet Asset Management Inc. lifted 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew 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 acquiring an additional 48,018 shares during the period. Institutional investors own 63.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports 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 report on Friday, October 25th. 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.50.

Live Oak Bancshares Stock Up 1.3 %

Live Oak Bancshares stock opened at $39.17 on Friday. Live Oak Bancshares, Inc. has a twelve month low of $31.03 and a twelve month high of $50.57. The stock has a market cap of $1.77 billion, a P/E ratio of 24.64 and a beta of 1.66. The company’s 50-day moving average price is $45.65 and its two-hundred day moving average price is $42.15.

Live Oak Bancshares (NASDAQ:LOB) last announced its 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). The firm had revenue of $241.87 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.88 EPS. Equities analysts anticipate that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.31%. Live Oak Bancshares’s payout ratio is presently 7.55%.

Insider Activity at Live Oak Bancshares

In related news, Director William Henderson Cameron bought 1,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the transaction, the director now owns 202,217 shares in the company, valued at $8,040,147.92. The trade was a 0.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by corporate insiders.

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.