Diamond Hill Capital Management Inc. lessened its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB – Free Report) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,782,588 shares of the bank’s stock after selling 4,980 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Live Oak Bancshares were worth $62,498,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. First Hawaiian Bank purchased a new position in Live Oak Bancshares during the second quarter valued at approximately $542,000. Dimensional Fund Advisors LP lifted its stake in shares of Live Oak Bancshares by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock valued at $60,415,000 after purchasing an additional 61,029 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Live Oak Bancshares during the first quarter worth $1,350,000. Vanguard Group Inc. increased its stake in shares of Live Oak Bancshares by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank’s stock valued at $105,273,000 after purchasing an additional 27,086 shares in the last quarter. Finally, Capital International Investors acquired a new position in Live Oak Bancshares during the first quarter worth $18,628,000. 63.95% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CAO John W. Sutherland sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at $1,143,929. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 23.90% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Stock Report on Live Oak Bancshares
Live Oak Bancshares Stock Performance
Shares of LOB opened at $45.40 on Friday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 22.81 and a beta of 1.60. Live Oak Bancshares, Inc. has a 1 year low of $26.11 and a 1 year high of $47.22. The company’s fifty day moving average is $41.20 and its two-hundred day moving average is $38.05.
Live Oak Bancshares (NASDAQ:LOB – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.13. The company had revenue of $232.61 million for the quarter, compared to the consensus estimate of $123.08 million. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 10.93%. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts predict that Live Oak Bancshares, Inc. will post 2.32 EPS for the current year.
Live Oak Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.
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.
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