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

Fmr LLC lifted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 15.0% in the third quarter, HoldingsChannel.com reports. The fund owned 4,364 shares of the bank’s stock after acquiring 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 reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 49 Wealth Management LLC lifted its stake in Live Oak Bancshares by 2.1% during the third quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock worth $484,000 after purchasing an additional 212 shares during the last quarter. nVerses Capital LLC increased its position in shares of Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 700 shares during the last quarter. 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Live Oak Bancshares by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,206 shares of the bank’s stock worth $323,000 after buying an additional 836 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in Live Oak Bancshares by 16.4% in the second quarter. Inspire Investing LLC now owns 10,086 shares of the bank’s stock worth $354,000 after buying an additional 1,424 shares in the last quarter. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Live Oak Bancshares Price Performance

Shares of Live Oak Bancshares stock opened at $39.17 on Friday. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57. The business’s 50 day simple moving average is $45.49 and its two-hundred day simple moving average is $42.19. The stock has a market capitalization of $1.77 billion, a P/E ratio of 24.64 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). The firm had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. During the same period in the previous year, the firm earned $0.88 earnings per share. Sell-side analysts expect that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on LOB. 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. Piper Sandler decreased their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and an average target price of $45.50.

Insider Transactions at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares stock in a transaction 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 sale, the chief accounting officer now owns 14,015 shares in the company, 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 link. Also, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was bought 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 in the company, valued at approximately $8,040,147.92. This represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by company insiders.

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.