Algert Global LLC Sells 467 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Algert Global LLC trimmed its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,794 shares of the bank’s stock after selling 467 shares during the period. Algert Global LLC’s holdings in Live Oak Bancshares were worth $4,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in shares of Live Oak Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock worth $251,000 after purchasing an additional 476 shares during the period. Vanguard Group Inc. grew its stake in shares of Live Oak Bancshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock worth $105,273,000 after acquiring an additional 27,086 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Live Oak Bancshares by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,069 shares of the bank’s stock worth $917,000 after acquiring an additional 1,728 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Live Oak Bancshares in the 1st quarter valued at about $129,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Live Oak Bancshares during the first quarter valued at about $1,350,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial lowered 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 report on Monday, October 28th. Piper Sandler reduced their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Live Oak Bancshares Trading Up 0.7 %

Shares of Live Oak Bancshares stock opened at $47.77 on Monday. The company’s 50-day moving average price is $46.30 and its 200-day moving average price is $40.85. Live Oak Bancshares, Inc. has a 12-month low of $31.03 and a 12-month high of $50.57. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 30.04 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (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 quarter in the prior year, the company earned $0.88 earnings per share. On average, sell-side analysts predict that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Monday, December 2nd. Live Oak Bancshares’s payout ratio is 7.55%.

Insiders Place Their Bets

In related news, Director William Henderson Cameron purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $39.76 per share, with a total value of $39,760.00. Following the acquisition, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. This represents a 0.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total transaction of $616,812.00. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company’s stock.

Live Oak Bancshares Company 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.