Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Bought by Barclays PLC

Barclays PLC grew its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 130.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,577 shares of the bank’s stock after purchasing an additional 41,662 shares during the quarter. Barclays PLC owned approximately 0.16% of Live Oak Bancshares worth $3,485,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in LOB. MML Investors Services LLC raised its holdings in Live Oak Bancshares by 8.8% during the third quarter. MML Investors Services LLC now owns 15,966 shares of the bank’s stock worth $756,000 after purchasing an additional 1,293 shares in the last quarter. XTX Topco Ltd acquired a new position in Live Oak Bancshares during the 3rd quarter worth approximately $291,000. State Street Corp lifted its holdings in shares of Live Oak Bancshares by 13.4% in the 3rd quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock valued at $52,553,000 after buying an additional 131,343 shares during the period. Stifel Financial Corp boosted its stake in shares of Live Oak Bancshares by 59.5% in the third quarter. Stifel Financial Corp now owns 19,720 shares of the bank’s stock valued at $934,000 after buying an additional 7,357 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 354 shares in the last quarter. Hedge funds and other 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 12,588 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the acquisition, the director now directly owns 202,217 shares of the company’s stock, valued at $8,040,147.92. This represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 23.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Live Oak Bancshares Price Performance

Shares of LOB opened at $39.23 on Tuesday. Live Oak Bancshares, Inc. has a 12 month low of $31.03 and a 12 month high of $50.57. The stock has a fifty day moving average price of $45.31 and a 200 day moving average price of $42.37. The company has a market cap of $1.77 billion, a P/E ratio of 24.67 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 for the quarter, missing the consensus estimate of $0.53 by ($0.25). The business had revenue of $241.87 million for the quarter, compared to the consensus estimate of $126.63 million. Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. During the same period in the previous year, the firm earned $0.88 EPS. As a group, research analysts anticipate that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

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

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.