Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Purchased by Creative Planning

Creative Planning boosted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 36.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,194 shares of the bank’s stock after acquiring an additional 2,725 shares during the period. Creative Planning’s holdings in Live Oak Bancshares were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC grew 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 acquiring an additional 823 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Live Oak Bancshares by 1,885.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after purchasing an additional 2,206 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Live Oak Bancshares during the 1st quarter worth about $129,000. SG Americas Securities LLC acquired a new stake in shares of Live Oak Bancshares during the 1st quarter worth about $165,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Live Oak Bancshares during the 3rd quarter worth about $205,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LOB has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed 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 decreased their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Truist Financial decreased their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.50.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were purchased at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the acquisition, the director now owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the sale, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Henderson Cameron acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the purchase, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by insiders.

Live Oak Bancshares Price Performance

Shares of LOB stock opened at $49.48 on Thursday. The firm has a market cap of $2.23 billion, a P/E ratio of 31.12 and a beta of 1.63. Live Oak Bancshares, Inc. has a 1-year low of $29.26 and a 1-year high of $50.57. The firm’s 50-day simple moving average is $45.12 and its 200-day simple moving average is $39.80.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data 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 company had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. Live Oak Bancshares had a return on equity of 7.81% and a net margin of 7.99%. During the same quarter in the previous year, the company earned $0.88 earnings per share. Analysts expect that Live Oak Bancshares, Inc. will post 2.16 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.24%. Live Oak Bancshares’s payout ratio is 7.55%.

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.