Charles Schwab Investment Management Inc. Raises Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Charles Schwab Investment Management Inc. raised its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,821 shares of the bank’s stock after purchasing an additional 8,116 shares during the period. Charles Schwab Investment Management Inc. owned about 0.62% of Live Oak Bancshares worth $13,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in LOB. Price T Rowe Associates Inc. MD grew its holdings in Live Oak Bancshares by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,069 shares of the bank’s stock worth $917,000 after acquiring an additional 1,728 shares in the last quarter. Cetera Advisors LLC boosted its stake in Live Oak Bancshares by 9.2% in the first quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock valued at $245,000 after acquiring an additional 500 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Live Oak Bancshares by 57.8% during the second quarter. SG Americas Securities LLC now owns 6,282 shares of the bank’s stock worth $220,000 after purchasing an additional 2,300 shares during the last quarter. Blue Trust Inc. increased its position in shares of 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 grew its stake in Live Oak Bancshares by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 186,961 shares of the bank’s stock worth $6,555,000 after buying an additional 8,327 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Performance

Shares of LOB opened at $46.42 on Monday. The stock has a market capitalization of $2.10 billion, a P/E ratio of 29.19 and a beta of 1.66. Live Oak Bancshares, Inc. has a 1 year low of $31.03 and a 1 year high of $50.57. The company’s fifty day moving average is $46.20 and its two-hundred day moving average is $41.67.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly 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 return on equity of 7.65% and a net margin of 7.99%. The firm had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same period in the prior year, the company earned $0.88 earnings per share. Sell-side analysts predict that Live Oak Bancshares, Inc. will post 1.97 EPS for the current year.

Live Oak Bancshares Dividend Announcement

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 paid a $0.03 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.26%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 7.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LOB shares. Piper Sandler lowered their target price 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. Truist Financial lowered their price objective 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.50.

Insider Buying and Selling

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

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.