Quest Partners LLC Buys 15,120 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Quest Partners LLC raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 746.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,146 shares of the bank's stock after acquiring an additional 15,120 shares during the quarter. Quest Partners LLC's holdings in Live Oak Bancshares were worth $812,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. nVerses Capital LLC increased its position in Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank's stock worth $71,000 after purchasing an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank's stock valued at $81,000 after purchasing an additional 2,206 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Live Oak Bancshares in the 1st quarter valued at about $129,000. New York State Teachers Retirement System lifted its stake in shares of Live Oak Bancshares by 161.4% in the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank's stock valued at $150,000 after purchasing an additional 1,954 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Live Oak Bancshares during the 1st quarter worth approximately $165,000. Institutional investors and hedge funds own 63.95% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LOB. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. Truist Financial lowered their price objective 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. Finally, Piper Sandler reduced their price target on Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.50.

Insider Buying and Selling at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 12,588 shares of the business's stock in a transaction that occurred 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 owns 14,015 shares in the company, valued at $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Henderson Cameron acquired 1,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $39.76 per share, with a total value of $39,760.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.90% of the company's stock.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB traded up $0.27 during midday trading on Friday, hitting $47.69. The stock had a trading volume of 200,751 shares, compared to its average volume of 184,675. The company's 50-day simple moving average is $46.25 and its 200 day simple moving average is $40.69. The firm has a market cap of $2.16 billion, a P/E ratio of 29.86 and a beta of 1.63. Live Oak Bancshares, Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $50.57.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last posted its quarterly 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 company had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities analysts expect that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Monday, December 2nd. Live Oak Bancshares's dividend payout ratio is 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.