Jacobs Levy Equity Management Inc. Boosts Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Jacobs Levy Equity Management Inc. raised its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 82.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,309 shares of the bank's stock after purchasing an additional 83,639 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.41% of Live Oak Bancshares worth $8,778,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in Live Oak Bancshares in the 3rd quarter worth about $364,000. Benjamin Edwards Inc. boosted its stake in Live Oak Bancshares by 62.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 7,717 shares of the bank's stock worth $366,000 after purchasing an additional 2,977 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Live Oak Bancshares by 53.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 25,054 shares of the bank's stock worth $1,187,000 after purchasing an additional 8,726 shares in the last quarter. FMR LLC boosted its stake in Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank's stock worth $207,000 after purchasing an additional 568 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Live Oak Bancshares by 3.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 221,263 shares of the bank's stock worth $10,481,000 after purchasing an additional 7,662 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on LOB. Piper Sandler lowered their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Truist Financial lowered their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Live Oak Bancshares presently has an average rating of "Hold" and a consensus target price of $45.50.

Live Oak Bancshares Trading Up 1.9 %

Live Oak Bancshares stock traded up $0.85 during midday trading on Friday, hitting $46.42. The stock had a trading volume of 98,896 shares, compared to its average volume of 183,464. The firm's fifty day moving average is $46.23 and its two-hundred day moving average is $41.51. The company has a market capitalization of $2.10 billion, a PE ratio of 28.66 and a beta of 1.66. Live Oak Bancshares, Inc. has a 52-week low of $31.03 and a 52-week high of $50.57.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last released 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). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The firm had revenue of $241.87 million during the quarter, compared to analysts' expectations of $126.63 million. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, equities research analysts predict that Live Oak Bancshares, Inc. will post 1.97 earnings per share 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Monday, December 2nd. Live Oak Bancshares's dividend payout ratio (DPR) is currently 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the completion of the sale, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Henderson Cameron purchased 1,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the purchase, the director now owns 202,217 shares of the company's stock, valued at approximately $8,040,147.92. This trade represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. Insiders own 23.90% of the company's stock.

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.