Blue Trust Inc. Decreases Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Blue Trust Inc. decreased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 71.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 71,171 shares of the bank’s stock after selling 181,823 shares during the period. Blue Trust Inc.’s holdings in Live Oak Bancshares were worth $3,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors purchased a new stake in Live Oak Bancshares in the 1st quarter worth about $18,628,000. Envestnet Asset Management Inc. increased its stake in shares of Live Oak Bancshares by 432.0% in the second quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock worth $2,319,000 after purchasing an additional 53,700 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Live Oak Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after purchasing an additional 48,018 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Live Oak Bancshares in the first quarter valued at approximately $1,350,000. Finally, Vanguard Group Inc. lifted its stake in shares of Live Oak Bancshares by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,509,008 shares of the bank’s stock valued at $114,160,000 after buying an additional 27,451 shares in the last quarter. 63.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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. 23.90% of the stock is owned by company insiders.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock opened at $49.34 on Friday. The stock has a market cap of $2.22 billion, a P/E ratio of 24.79 and a beta of 1.60. Live Oak Bancshares, Inc. has a fifty-two week low of $26.11 and a fifty-two week high of $50.57. The firm’s fifty day moving average price is $44.62 and its 200-day moving average price is $39.42.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The firm had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. During the same quarter last year, the firm posted $0.39 EPS. Sell-side analysts predict that Live Oak Bancshares, Inc. will post 2.31 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LOB. JPMorgan Chase & Co. lowered their target price on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Piper Sandler boosted their price objective on Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Truist Financial lifted their target price on Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.75.

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.