Salem Investment Counselors Inc. Has $2.64 Million Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Salem Investment Counselors Inc. cut its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 23.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 66,725 shares of the bank's stock after selling 20,635 shares during the period. Salem Investment Counselors Inc. owned 0.15% of Live Oak Bancshares worth $2,639,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LOB. 49 Wealth Management LLC increased its holdings in shares of Live Oak Bancshares by 2.1% during the 3rd 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 last quarter. Quarry LP increased its position in shares of Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank's stock worth $34,000 after acquiring an additional 354 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Live Oak Bancshares by 3.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank's stock valued at $411,000 after acquiring an additional 356 shares in the last quarter. First Hawaiian Bank boosted its position in Live Oak Bancshares by 3.6% during the 4th quarter. First Hawaiian Bank now owns 16,002 shares of the bank's stock worth $633,000 after purchasing an additional 551 shares during the period. Finally, FMR LLC boosted its position in shares of Live Oak Bancshares by 15.0% in the third quarter. FMR LLC now owns 4,364 shares of the bank's stock worth $207,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 63.95% of the company's stock.

Analysts Set New Price Targets

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

Live Oak Bancshares Trading Up 2.6 %

Shares of NASDAQ LOB traded up $0.96 during midday trading on Tuesday, reaching $38.43. The company's stock had a trading volume of 37,796 shares, compared to its average volume of 122,821. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 24.17 and a beta of 1.69. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57. The company has a 50 day moving average price of $43.72 and a 200 day moving average price of $42.99.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last posted 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). The firm had revenue of $241.87 million for the quarter, compared to analysts' expectations 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 period in the prior year, the company posted $0.88 earnings per share. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 annualized dividend and a yield of 0.31%. Live Oak Bancshares's dividend payout ratio is presently 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In other news, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares 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 transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Henderson Cameron purchased 1,000 shares of the business's 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 acquisition, the director now owns 202,217 shares of the company's stock, valued at approximately $8,040,147.92. The trade was 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.

About Live Oak Bancshares

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.