6,682 Shares in Live Oak Bancshares, Inc. (NASDAQ:LOB) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,682 shares of the bank’s stock, valued at approximately $317,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Live Oak Bancshares by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock worth $54,701,000 after purchasing an additional 15,496 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Live Oak Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after purchasing an additional 48,018 shares in the last quarter. abrdn plc bought a new stake in Live Oak Bancshares during the third quarter worth approximately $14,501,000. Blue Trust Inc. raised its holdings in Live Oak Bancshares by 12,211.1% during the second quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock worth $8,870,000 after purchasing an additional 250,939 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Live Oak Bancshares by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 186,961 shares of the bank’s stock worth $6,555,000 after purchasing an additional 8,327 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

Insider Buying and Selling at Live Oak Bancshares

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

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $47.01 on Thursday. The firm’s 50 day moving average price is $46.24 and its two-hundred day moving average price is $41.48. Live Oak Bancshares, Inc. has a twelve month low of $31.03 and a twelve month high of $50.57. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 29.57 and a beta of 1.66.

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

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date is Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 7.55%.

Analysts Set New Price Targets

LOB has been the topic of several recent research reports. Truist Financial decreased their price target on shares of 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. Piper Sandler decreased their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.50.

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.