Southernsun Asset Management LLC Has $34.23 Million Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Southernsun Asset Management LLC lowered its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 722,527 shares of the bank's stock after selling 98,695 shares during the quarter. Live Oak Bancshares comprises about 4.1% of Southernsun Asset Management LLC's investment portfolio, making the stock its 13th largest position. Southernsun Asset Management LLC owned 1.60% of Live Oak Bancshares worth $34,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quarry LP raised its position in Live Oak Bancshares by 98.6% in 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 last quarter. Quest Partners LLC raised its position 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 acquiring an additional 823 shares during the last quarter. nVerses Capital LLC raised its position in shares of 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 acquiring an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 valued at $81,000 after acquiring an additional 2,206 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in Live Oak Bancshares by 161.4% in the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank's stock valued at $150,000 after acquiring an additional 1,954 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Insider Activity

In related 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 transaction 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 trade represents 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 stock in a transaction 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 transaction, 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. 23.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LOB has been the topic of several recent research reports. Piper Sandler reduced their price target on Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their target price on shares of 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. One investment 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 data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $45.50.

Live Oak Bancshares Trading Up 0.9 %

Shares of LOB stock traded up $0.43 during trading hours on Friday, hitting $46.00. 29,839 shares of the company were exchanged, compared to its average volume of 183,164. Live Oak Bancshares, Inc. has a 52 week low of $31.03 and a 52 week high of $50.57. The business has a 50 day moving average of $46.23 and a two-hundred day moving average of $41.51. The company has a market capitalization of $2.08 billion, a PE ratio of 28.66 and a beta of 1.66.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. The firm had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same period in the prior year, the business posted $0.88 EPS. On average, research analysts forecast that Live Oak Bancshares, Inc. will post 1.97 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Monday, December 2nd. Live Oak Bancshares's payout ratio is 7.55%.

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.