Fmr LLC Buys 568 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Fmr LLC increased its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,364 shares of the bank’s stock after buying an additional 568 shares during the quarter. Fmr LLC’s holdings in Live Oak Bancshares were worth $207,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Quest Partners LLC increased its stake in Live Oak Bancshares by 68.4% in the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after buying an additional 823 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after acquiring an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position 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 acquiring an additional 2,206 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Live Oak Bancshares by 161.4% during the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after acquiring an additional 1,954 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in Live Oak Bancshares in the second quarter worth $166,000. Institutional investors own 63.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director William Henderson Cameron purchased 1,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the transaction, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction on 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 owns 14,015 shares in the company, valued at $686,735. This trade represents a 47.32 % decrease in their position. The disclosure for this sale can be found here. 23.90% of the stock is owned by corporate insiders.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB opened at $39.17 on Friday. The business’s fifty day moving average price is $45.49 and its 200-day moving average price is $42.19. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57. The stock has a market capitalization of $1.77 billion, a PE ratio of 24.64 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 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 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 company earned $0.88 earnings per share. As a group, equities analysts expect that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. Live Oak Bancshares’s dividend payout ratio (DPR) is 7.55%.

Wall Street Analyst Weigh In

LOB has been the subject of several research analyst reports. Piper Sandler decreased their target price on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Truist Financial decreased their price objective on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Live Oak Bancshares presently has a consensus rating of “Hold” and a consensus target price of $45.50.

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.