Live Oak Bancshares, Inc. (NASDAQ:LOB) Stake Boosted by Stifel Financial Corp

Stifel Financial Corp boosted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 59.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,720 shares of the bank’s stock after purchasing an additional 7,357 shares during the quarter. Stifel Financial Corp’s holdings in Live Oak Bancshares were worth $934,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after acquiring an additional 354 shares during the period. Quest Partners LLC grew its position in Live Oak Bancshares by 68.4% during the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after purchasing an additional 823 shares in the last quarter. nVerses Capital LLC raised its stake in Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 700 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Live Oak Bancshares by 1,885.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,206 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Live Oak Bancshares by 161.4% in the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after buying an additional 1,954 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Piper Sandler dropped their price target on 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 dropped their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.50.

Insider Activity

In related news, CAO John W. Sutherland sold 12,588 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. The trade was a 47.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Henderson Cameron acquired 1,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average price 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 of the company’s stock, valued at $8,040,147.92. The trade was a 0.50 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is owned by insiders.

Live Oak Bancshares Trading Up 0.2 %

LOB opened at $39.23 on Tuesday. The stock has a fifty day moving average price of $45.31 and a 200 day moving average price of $42.37. Live Oak Bancshares, Inc. has a 1 year low of $31.03 and a 1 year high of $50.57. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 24.67 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) 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 firm had revenue of $241.87 million for the quarter, compared to analyst estimates of $126.63 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. As a group, sell-side analysts forecast that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

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.