nVerses Capital LLC Acquires 700 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

nVerses Capital LLC lifted its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 87.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,500 shares of the bank’s stock after purchasing an additional 700 shares during the period. nVerses Capital LLC’s holdings in Live Oak Bancshares were worth $71,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of LOB. Toth Financial Advisory Corp boosted its holdings in Live Oak Bancshares by 10.7% in the first quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock valued at $138,000 after acquiring an additional 320 shares during the last quarter. ProShare Advisors LLC grew its holdings in Live Oak Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock worth $251,000 after acquiring an additional 476 shares during the period. Cetera Advisors LLC raised its position in shares of Live Oak Bancshares by 9.2% in the 1st quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock worth $245,000 after acquiring an additional 500 shares in the last quarter. Riverview Trust Co acquired a new stake in Live Oak Bancshares during the first quarter worth approximately $28,000. Finally, Chatham Capital Group Inc. increased its holdings in Live Oak Bancshares by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock worth $1,536,000 after purchasing an additional 735 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction 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 transaction, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.90% of the company’s stock.

Analyst Upgrades and Downgrades

LOB has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Truist Financial raised their target price on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Piper Sandler upped 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. One 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. According to data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $48.75.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB opened at $47.46 on Tuesday. The company has a 50-day moving average price of $44.80 and a 200-day moving average price of $39.47. The stock has a market capitalization of $2.13 billion, a P/E ratio of 23.85 and a beta of 1.60. 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 quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. The business had revenue of $232.61 million during the quarter, compared to the consensus estimate of $123.08 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same quarter in the previous year, the business earned $0.39 EPS. As a group, equities research analysts anticipate that Live Oak Bancshares, Inc. will post 2.31 earnings per share for the current fiscal 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 $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%.

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.