Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC reduced its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,833 shares of the bank’s stock after selling 356 shares during the quarter. Natixis Advisors LLC’s holdings in Live Oak Bancshares were worth $987,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. abrdn plc acquired a new position in Live Oak Bancshares in the 3rd quarter valued at about $14,501,000. Blue Trust Inc. grew its holdings in shares of Live Oak Bancshares by 12,211.1% in the second quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after purchasing an additional 250,939 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Live Oak Bancshares by 432.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock worth $2,319,000 after buying an additional 53,700 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Live Oak Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after buying an additional 48,018 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Live Oak Bancshares in the 1st quarter valued at approximately $1,350,000. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Trading Down 0.4 %

Live Oak Bancshares stock opened at $48.49 on Wednesday. The stock has a market cap of $2.19 billion, a P/E ratio of 30.49 and a beta of 1.63. The company has a fifty day simple moving average of $46.34 and a 200-day simple moving average of $40.95. Live Oak Bancshares, Inc. has a 12-month low of $31.03 and a 12-month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The business had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same period last year, the firm earned $0.88 earnings per share. As a group, sell-side analysts forecast that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 12,588 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the completion of the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. The trade was a 47.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Henderson Cameron bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, with a total value of $39,760.00. Following the completion of the transaction, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LOB. Piper Sandler reduced their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Truist Financial reduced their price target on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and a consensus target price of $45.50.

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.