Benjamin Edwards Inc. Makes New Investment in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Benjamin Edwards Inc. purchased a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,740 shares of the bank’s stock, valued at approximately $166,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LOB. Riverview Trust Co bought a new position in Live Oak Bancshares in the first quarter valued at $28,000. Independence Bank of Kentucky bought a new position in shares of Live Oak Bancshares during the 1st quarter valued at about $44,000. Quest Partners LLC raised its holdings in shares of Live Oak Bancshares by 68.4% during 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after buying an additional 2,206 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Live Oak Bancshares in the first quarter worth approximately $129,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Insider Activity at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the sale, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.90% of the stock is owned by corporate insiders.

Live Oak Bancshares Stock Down 1.7 %

Shares of Live Oak Bancshares stock opened at $48.89 on Friday. The company’s fifty day simple moving average is $42.53 and its two-hundred day simple moving average is $38.38. Live Oak Bancshares, Inc. has a 12-month low of $26.11 and a 12-month high of $50.57. The firm has a market cap of $2.20 billion, a PE ratio of 24.57 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. The company had revenue of $232.61 million for the quarter, compared to the consensus estimate of $123.08 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same quarter in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts expect that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Piper Sandler boosted their price target on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Truist Financial raised their price objective on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.75.

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.