Central Pacific Bank Trust Division Acquires 356 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Central Pacific Bank Trust Division boosted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,392 shares of the bank’s stock after purchasing an additional 356 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Live Oak Bancshares were worth $411,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. 49 Wealth Management LLC grew its stake in shares of Live Oak Bancshares by 2.1% in the 3rd quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after buying an additional 212 shares during the period. Quarry LP boosted its holdings in Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after acquiring an additional 354 shares in the last quarter. FMR LLC grew its stake in Live Oak Bancshares by 15.0% in the third quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after acquiring an additional 568 shares during the period. nVerses Capital LLC increased its holdings in shares of Live Oak Bancshares by 87.5% during the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after acquiring an additional 700 shares in the last quarter. Finally, Quest Partners LLC raised its position in shares of Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after purchasing an additional 823 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler decreased their price target 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 decreased their target price on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Live Oak Bancshares presently has an average rating of “Moderate Buy” and an average target price of $45.50.

Live Oak Bancshares Trading Up 0.7 %

Shares of NASDAQ:LOB opened at $38.81 on Friday. The stock has a market cap of $1.75 billion, a PE ratio of 24.41 and a beta of 1.66. The stock’s fifty day simple moving average is $43.98 and its two-hundred day simple moving average is $42.66. Live Oak Bancshares, Inc. has a 1-year low of $31.03 and a 1-year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly 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 firm 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 7.65% and a net margin of 7.99%. During the same quarter last year, the firm posted $0.88 earnings per share. On average, sell-side analysts forecast that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

Insider Buying and Selling

In related news, CAO John W. Sutherland sold 12,588 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total transaction of $616,812.00. Following the completion of the sale, the chief accounting officer now owns 14,015 shares in the company, valued at approximately $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Henderson Cameron bought 1,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was bought at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the purchase, the director now owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. The trade was a 0.50 % 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 corporate insiders.

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.