nVerses Capital LLC Purchases 700 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

nVerses Capital LLC grew its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 87.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500 shares of the bank’s stock after purchasing an additional 700 shares during the period. nVerses Capital LLC’s holdings in Live Oak Bancshares were worth $71,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Riverview Trust Co bought a new position in Live Oak Bancshares in the first quarter valued at approximately $28,000. Independence Bank of Kentucky acquired a new stake in shares of Live Oak Bancshares in the 1st quarter valued at approximately $44,000. Quest Partners LLC grew its stake in shares of Live Oak Bancshares by 68.4% in the second 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 increased its holdings in 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 worth $81,000 after buying an additional 2,206 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Live Oak Bancshares during the first quarter worth $129,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Piper Sandler lifted their target price on Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. One 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.75.

Insider Activity at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.90% of the stock is currently owned by insiders.

Live Oak Bancshares Stock Performance

LOB stock opened at $47.46 on Tuesday. Live Oak Bancshares, Inc. has a 52 week low of $26.11 and a 52 week high of $50.57. The company has a market capitalization of $2.13 billion, a PE ratio of 23.85 and a beta of 1.60. The company’s 50-day simple moving average is $44.80 and its 200 day simple moving average is $39.47.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. The business had revenue of $232.61 million during 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 firm earned $0.39 earnings per share. On average, analysts forecast that Live Oak Bancshares, Inc. will post 2.31 EPS for the current year.

Live Oak Bancshares Announces Dividend

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

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.