Sei Investments Co. Has $793,000 Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Sei Investments Co. raised its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 268.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,630 shares of the bank’s stock after buying an additional 16,482 shares during the period. Sei Investments Co. owned about 0.05% of Live Oak Bancshares worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in Live Oak Bancshares during the 1st quarter worth about $28,000. Independence Bank of Kentucky bought a new position in shares of Live Oak Bancshares in the first quarter worth about $44,000. Quest Partners LLC lifted its position in shares of Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after purchasing an additional 823 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Live Oak Bancshares by 1,885.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,206 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Live Oak Bancshares in the first quarter valued at approximately $129,000. Institutional investors own 63.95% of the company’s stock.

Insiders Place Their Bets

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 value of $860,000.00. Following the sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at approximately $1,143,929. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.90% of the company’s stock.

Live Oak Bancshares Stock Up 1.4 %

Shares of LOB stock opened at $46.55 on Wednesday. Live Oak Bancshares, Inc. has a 12-month low of $26.11 and a 12-month high of $50.57. The firm has a fifty day moving average of $43.43 and a 200-day moving average of $38.98. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 23.39 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. The company had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. Research analysts expect that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.03 dividend. 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 payout ratio is 6.03%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LOB. 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 report on Thursday, June 27th. Piper Sandler upped their price target on Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Truist Financial lifted their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.