Loomis Sayles & Co. L P Boosts Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Loomis Sayles & Co. L P boosted its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,263 shares of the bank’s stock after acquiring an additional 7,662 shares during the period. Loomis Sayles & Co. L P owned 0.49% of Live Oak Bancshares worth $10,481,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. abrdn plc purchased a new stake in Live Oak Bancshares in the 3rd quarter worth about $14,501,000. Blue Trust Inc. increased its stake in shares of Live Oak Bancshares by 12,211.1% in the second quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock worth $8,870,000 after purchasing an additional 250,939 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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 valued at $2,319,000 after purchasing an additional 53,700 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Live Oak Bancshares by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after buying an additional 48,018 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Live Oak Bancshares in the 1st quarter worth approximately $1,350,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 12,588 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the transaction, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. This trade represents a 47.32 % decrease in their position. The sale 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 that occurred on Tuesday, October 29th. The stock was purchased at an average price of $39.76 per share, with a total value of $39,760.00. Following the transaction, the director now directly owns 202,217 shares in the company, valued at $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 insiders.

Analyst Ratings Changes

Several research firms have issued reports on LOB. Truist Financial dropped their target price on 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 dropped their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Hold” and an average target price of $45.50.

Live Oak Bancshares Price Performance

LOB opened at $48.23 on Thursday. The firm has a market capitalization of $2.18 billion, a P/E ratio of 30.50 and a beta of 1.63. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57. The company has a fifty day moving average price of $46.35 and a 200-day moving average price of $41.04.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The business had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, analysts expect that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

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 given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is 7.55%.

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.