Northwestern Mutual Wealth Management Co. Reduces Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 26.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,610 shares of the bank’s stock after selling 4,500 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Live Oak Bancshares were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Hawaiian Bank acquired a new position in shares of Live Oak Bancshares in the second quarter valued at approximately $542,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Live Oak Bancshares in the 1st quarter worth approximately $1,350,000. Vanguard Group Inc. increased its position in shares of Live Oak Bancshares by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock valued at $105,273,000 after buying an additional 27,086 shares in the last quarter. Capital International Investors acquired a new stake in Live Oak Bancshares in the 1st quarter valued at about $18,628,000. Finally, Russell Investments Group Ltd. raised its position in Live Oak Bancshares by 1.7% during the first quarter. Russell Investments Group Ltd. now owns 118,609 shares of the bank’s stock worth $4,923,000 after acquiring an additional 1,961 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction dated 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 owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LOB shares. Piper Sandler raised their price objective on shares of 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 upped their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.75.

Live Oak Bancshares Stock Up 1.4 %

Shares of NASDAQ:LOB opened at $46.55 on Wednesday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 23.39 and a beta of 1.60. The company has a 50 day moving average of $43.43 and a two-hundred day moving average of $38.98. Live Oak Bancshares, Inc. has a 52-week low of $26.11 and a 52-week high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.13. The company had revenue of $232.61 million for 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 period in the previous year, the business earned $0.39 EPS. On average, equities analysts anticipate that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

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.