Live Oak Bancshares, Inc. (NASDAQ:LOB) Stock Position Lessened by Rhumbline Advisers

Rhumbline Advisers decreased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,785 shares of the bank’s stock after selling 3,448 shares during the quarter. Rhumbline Advisers owned about 0.11% of Live Oak Bancshares worth $1,781,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LOB. Riverview Trust Co purchased a new stake in Live Oak Bancshares in the 1st quarter worth about $28,000. Independence Bank of Kentucky bought a new position in Live Oak Bancshares in the 1st quarter worth approximately $44,000. Allspring Global Investments Holdings LLC increased its position in Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after buying an additional 2,206 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Live Oak Bancshares during the 1st quarter worth approximately $129,000. Finally, Toth Financial Advisory Corp grew its holdings in shares of Live Oak Bancshares by 10.7% during the 1st quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock worth $138,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on LOB shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective 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 target price on Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Truist Financial upped their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and a consensus target price of $48.75.

Live Oak Bancshares Trading Down 1.7 %

NASDAQ:LOB opened at $48.89 on Friday. Live Oak Bancshares, Inc. has a 1 year low of $26.11 and a 1 year high of $50.57. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 24.57 and a beta of 1.60. The stock has a 50-day moving average price of $42.53 and a two-hundred day moving average price of $38.39.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.13. The company had revenue of $232.61 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts forecast that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.25%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Insider Activity at Live Oak Bancshares

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

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.