Blue Trust Inc. Has $3.37 Million Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Blue Trust Inc. decreased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 71.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,171 shares of the bank's stock after selling 181,823 shares during the period. Blue Trust Inc. owned 0.16% of Live Oak Bancshares worth $3,371,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Live Oak Bancshares during the first quarter worth about $28,000. Independence Bank of Kentucky bought a new position in Live Oak Bancshares during the first quarter worth about $44,000. nVerses Capital LLC boosted its holdings in Live Oak Bancshares by 87.5% during the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank's stock worth $71,000 after buying an additional 700 shares during the last quarter. Quest Partners LLC boosted its holdings in 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 buying an additional 823 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Live Oak Bancshares by 1,885.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank's stock worth $81,000 after buying an additional 2,206 shares during the last quarter. Institutional investors own 63.95% of the company's stock.

Insider Buying and Selling at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 20,000 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the transaction, the chief accounting officer now directly owns 26,603 shares in the company, valued at approximately $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.90% of the company's stock.

Analyst Upgrades and Downgrades

LOB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Truist Financial raised their price target on Live Oak Bancshares from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on Live Oak Bancshares from $46.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, June 27th. Finally, Piper Sandler raised their price target on Live Oak Bancshares from $36.00 to $46.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $48.75.

Live Oak Bancshares Trading Down 1.8 %

Shares of NASDAQ:LOB traded down $0.88 during trading on Friday, hitting $49.34. 179,626 shares of the company were exchanged, compared to its average volume of 176,626. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 24.79 and a beta of 1.60. Live Oak Bancshares, Inc. has a fifty-two week low of $26.11 and a fifty-two week high of $50.57. The firm has a fifty day moving average price of $44.62 and a two-hundred day moving average price of $39.42.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last issued its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The company had revenue of $232.61 million during the quarter, compared to the consensus estimate of $123.08 million. During the same period in the previous year, the company posted $0.39 EPS. As a group, research analysts predict that Live Oak Bancshares, Inc. will post 2.31 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.03 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.24%. Live Oak Bancshares's dividend payout ratio (DPR) is presently 6.03%.

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.