JPMorgan Chase & Co. Purchases 54,286 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

JPMorgan Chase & Co. raised its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 195.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,077 shares of the bank's stock after buying an additional 54,286 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of Live Oak Bancshares worth $3,888,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Live Oak Bancshares by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank's stock valued at $54,701,000 after acquiring an additional 15,496 shares during the period. Dimensional Fund Advisors LP lifted 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 worth $49,169,000 after purchasing an additional 48,018 shares during the last quarter. State Street Corp boosted its holdings in shares of Live Oak Bancshares by 13.4% in the 3rd quarter. State Street Corp now owns 1,109,413 shares of the bank's stock worth $52,553,000 after purchasing an additional 131,343 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Live Oak Bancshares by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock valued at $36,658,000 after buying an additional 13,824 shares in the last quarter. Finally, abrdn plc purchased a new position in shares of Live Oak Bancshares during the third quarter worth approximately $14,501,000. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Price Performance

LOB stock traded up $0.59 during trading on Friday, hitting $40.54. 150,986 shares of the stock traded hands, compared to its average volume of 135,088. The firm's 50 day moving average is $43.23 and its two-hundred day moving average is $43.08. Live Oak Bancshares, Inc. has a 1 year low of $31.03 and a 1 year high of $50.57. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 23.11 and a beta of 1.69.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last issued 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 company had revenue of $241.87 million for the quarter, compared to the consensus estimate of $126.63 million. Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. During the same quarter last year, the company earned $0.88 EPS. As a group, analysts anticipate that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.03 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.12 annualized dividend and a yield of 0.30%. Live Oak Bancshares's dividend payout ratio (DPR) is 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In related news, Director William Henderson Cameron purchased 1,000 shares of Live Oak Bancshares stock in a transaction on Tuesday, October 29th. The stock was acquired at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the transaction, the director now directly owns 202,217 shares in the company, valued at $8,040,147.92. This represents a 0.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $616,812.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,015 shares in the company, 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 corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LOB shares. Truist Financial cut their price objective on shares of Live Oak Bancshares from $57.00 to $46.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Piper Sandler reduced their price objective on 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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $45.50.

Live Oak Bancshares 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.