abrdn plc Invests $14.50 Million in Live Oak Bancshares, Inc. (NASDAQ:LOB)

abrdn plc bought a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 306,124 shares of the bank's stock, valued at approximately $14,501,000. abrdn plc owned 0.68% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Live Oak Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 6,048 shares of the bank's stock valued at $251,000 after acquiring an additional 476 shares during the period. Cetera Advisors LLC boosted its position in shares of Live Oak Bancshares by 9.2% during the first quarter. Cetera Advisors LLC now owns 5,906 shares of the bank's stock worth $245,000 after purchasing an additional 500 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Live Oak Bancshares by 87.5% in the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank's stock valued at $71,000 after buying an additional 700 shares during the period. Chatham Capital Group Inc. grew its holdings in shares of Live Oak Bancshares by 1.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank's stock valued at $1,536,000 after buying an additional 735 shares during the period. Finally, Quest Partners LLC increased its position in shares of Live Oak Bancshares by 68.4% in the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank's stock valued at $71,000 after buying an additional 823 shares in the last quarter. Institutional investors own 63.95% of the company's stock.

Insider Buying and Selling

In other news, Director William Henderson Cameron bought 1,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the acquisition, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the sale, the chief accounting officer now owns 26,603 shares in the company, valued at $1,143,929. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Henderson Cameron bought 1,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the purchase, the director now directly owns 202,217 shares in the company, valued at $8,040,147.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LOB has been the subject of a number of research analyst reports. Truist Financial decreased their target price on 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. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Finally, Piper Sandler cut their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $45.50.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock traded up $1.35 during midday trading on Friday, reaching $41.06. The stock had a trading volume of 228,646 shares, compared to its average volume of 178,343. The stock has a market capitalization of $1.85 billion, a P/E ratio of 24.98 and a beta of 1.63. The firm's fifty day simple moving average is $45.01 and its 200-day simple moving average is $39.63. Live Oak Bancshares, Inc. has a 1-year low of $29.04 and a 1-year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.81% and a net margin of 7.99%. The business had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same period in the prior year, the firm earned $0.88 EPS. On average, sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 2.16 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares's dividend payout ratio is currently 7.55%.

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.