49 Wealth Management LLC Boosts Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

49 Wealth Management LLC grew its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,212 shares of the bank’s stock after acquiring an additional 212 shares during the period. 49 Wealth Management LLC’s holdings in Live Oak Bancshares were worth $484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital International Investors purchased a new stake in Live Oak Bancshares in the 1st quarter worth $18,628,000. abrdn plc purchased a new stake in shares of Live Oak Bancshares during the third quarter worth about $14,501,000. Blue Trust Inc. raised its stake in Live Oak Bancshares by 12,211.1% during the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after purchasing an additional 250,939 shares during the period. Envestnet Asset Management Inc. increased its position in 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 during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Live Oak Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after purchasing an additional 48,018 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

Shares of LOB stock opened at $47.61 on Friday. The company has a market capitalization of $2.15 billion, a P/E ratio of 29.94 and a beta of 1.63. The company’s 50-day simple moving average is $46.16 and its two-hundred day simple moving average is $40.64. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The business 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 last year, the company earned $0.88 earnings per share. On average, research analysts expect that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 7.55%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Truist Financial reduced their price objective on 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. Finally, Piper Sandler lowered their price objective on 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.50.

Insider Buying and Selling at Live Oak Bancshares

In other news, Director William Henderson Cameron bought 1,000 shares of Live Oak Bancshares stock in a transaction that occurred 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 purchase, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at $686,735. This trade represents a 47.32 % decrease in their position. The disclosure for this sale can be found here. 23.90% of the stock is owned by insiders.

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.