Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,402,516 shares of the bank’s stock after acquiring an additional 48,018 shares during the quarter. Dimensional Fund Advisors LP owned about 3.12% of Live Oak Bancshares worth $49,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital International Investors acquired a new stake in Live Oak Bancshares during the 1st quarter worth $18,628,000. Blue Trust Inc. grew its holdings in shares of Live Oak Bancshares by 12,211.1% during the second 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 last quarter. Norges Bank purchased a new position in shares of Live Oak Bancshares during the fourth quarter worth about $7,474,000. Homestead Advisers Corp raised its stake in Live Oak Bancshares by 103.6% during the 4th quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock valued at $5,596,000 after acquiring an additional 62,600 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Live Oak Bancshares by 432.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock worth $2,319,000 after acquiring an additional 53,700 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Truist Financial upped their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.75.

Insider Buying and Selling at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the transaction, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.90% of the stock is owned by company insiders.

Live Oak Bancshares Price Performance

NASDAQ:LOB opened at $47.44 on Monday. The firm has a market cap of $2.13 billion, a PE ratio of 23.84 and a beta of 1.60. The firm has a 50 day simple moving average of $43.10 and a 200-day simple moving average of $38.62. Live Oak Bancshares, Inc. has a 1-year low of $26.11 and a 1-year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The firm had revenue of $232.61 million during the quarter, compared to analyst estimates of $123.08 million. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, sell-side analysts expect that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s payout ratio is currently 6.03%.

About Live Oak Bancshares

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.