SG Americas Securities LLC Buys 8,011 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

SG Americas Securities LLC boosted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 127.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,293 shares of the bank’s stock after purchasing an additional 8,011 shares during the quarter. SG Americas Securities LLC’s holdings in Live Oak Bancshares were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Live Oak Bancshares in the 1st quarter valued at about $28,000. Independence Bank of Kentucky acquired a new stake in Live Oak Bancshares in the first quarter valued at approximately $44,000. Quest Partners LLC boosted its stake in Live Oak Bancshares by 68.4% in the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after acquiring an additional 823 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $81,000 after purchasing an additional 2,206 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Live Oak Bancshares during the first quarter worth $129,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

LOB stock opened at $47.25 on Monday. The company has a market capitalization of $2.12 billion, a P/E ratio of 23.74 and a beta of 1.60. Live Oak Bancshares, Inc. has a 12 month low of $26.11 and a 12 month high of $50.57. The firm’s fifty day simple moving average is $43.63 and its 200-day simple moving average is $39.11.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly 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. The company had revenue of $232.61 million for the quarter, compared to analyst estimates of $123.08 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, sell-side analysts forecast that Live Oak Bancshares, Inc. will post 2.31 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

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

Insider Buying and Selling at Live Oak Bancshares

In other 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 transaction of $860,000.00. Following the sale, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at $1,143,929. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on LOB shares. JPMorgan Chase & Co. dropped their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Piper Sandler boosted their price target on Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Truist Financial increased their price objective on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Keefe, Bruyette & Woods reissued 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. One investment 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.75.

Live Oak Bancshares Company 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.