Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 68.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,262 shares of the bank's stock after selling 13,440 shares during the period. Public Employees Retirement System of Ohio's holdings in Live Oak Bancshares were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. 49 Wealth Management LLC grew its stake in Live Oak Bancshares by 2.1% during the third quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank's stock worth $484,000 after buying an additional 212 shares during the period. Quarry LP boosted its position in Live Oak Bancshares by 98.6% during the 3rd quarter. Quarry LP now owns 713 shares of the bank's stock worth $34,000 after purchasing an additional 354 shares during the period. FMR LLC increased its holdings in Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank's stock valued at $207,000 after purchasing an additional 568 shares in the last quarter. nVerses Capital LLC raised its position in Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank's stock valued at $71,000 after purchasing an additional 700 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank's stock worth $71,000 after purchasing an additional 823 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 12,588 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were 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 owns 14,015 shares in the company, valued at approximately $686,735. This represents a 47.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Henderson Cameron purchased 1,000 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was purchased 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 $8,040,147.92. This trade represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 23.90% of the company's stock.

Live Oak Bancshares Trading Up 1.3 %

NASDAQ LOB traded up $0.52 during mid-day trading on Friday, reaching $39.17. 558,551 shares of the company's stock traded hands, compared to its average volume of 184,371. Live Oak Bancshares, Inc. has a 1-year low of $31.03 and a 1-year high of $50.57. The company has a fifty day simple moving average of $45.49 and a 200-day simple moving average of $42.32. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 24.64 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last released its quarterly earnings results 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 analyst estimates 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 in the previous year, the business posted $0.88 EPS. Equities research analysts forecast that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.31%. Live Oak Bancshares's dividend payout ratio (DPR) is presently 7.55%.

Wall Street Analyst Weigh In

LOB has been the subject of a number of recent research reports. Piper Sandler lowered their target price 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. Truist Financial dropped 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 given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" 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.