Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Purchased by State Street Corp

State Street Corp increased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,109,413 shares of the bank's stock after purchasing an additional 131,343 shares during the quarter. State Street Corp owned approximately 2.46% of Live Oak Bancshares worth $52,553,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LOB. 49 Wealth Management LLC raised its holdings in shares of Live Oak Bancshares by 2.1% in the 3rd quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank's stock valued at $484,000 after purchasing an additional 212 shares in the last quarter. Quarry LP increased its holdings in Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank's stock valued at $34,000 after buying an additional 354 shares during the period. FMR LLC increased its holdings in Live Oak Bancshares by 15.0% during the third quarter. FMR LLC now owns 4,364 shares of the bank's stock valued at $207,000 after buying an additional 568 shares during the period. nVerses Capital LLC raised its stake in Live Oak Bancshares by 87.5% in 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 in the last quarter. Finally, Quest Partners LLC lifted 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 period. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO John W. Sutherland sold 12,588 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were 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 of the company's stock, valued at approximately $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William Henderson Cameron acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average cost of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now owns 202,217 shares in the company, valued at $8,040,147.92. This represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LOB has been the subject 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 for the company in a research report on Friday, October 25th. Truist Financial decreased their price objective on Live Oak Bancshares from $57.00 to $46.00 and set a "buy" rating for the company in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Live Oak Bancshares currently has a consensus rating of "Hold" and a consensus target price of $45.50.

Live Oak Bancshares Trading Up 1.3 %

Live Oak Bancshares stock traded up $0.52 during mid-day trading on Friday, hitting $39.17. The company had a trading volume of 558,551 shares, compared to its average volume of 184,371. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 24.64 and a beta of 1.66. The company's fifty day moving average is $45.65 and its 200-day moving average is $42.15. Live Oak Bancshares, Inc. has a 12-month low of $31.03 and a 12-month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last issued its quarterly 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). The business had revenue of $241.87 million for the quarter, compared to analysts' expectations of $126.63 million. Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, sell-side analysts expect that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.31%. Live Oak Bancshares's dividend payout ratio is currently 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.