Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 20,833 shares of the bank’s stock after selling 356 shares during the period. Natixis Advisors LLC’s holdings in Live Oak Bancshares were worth $987,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in LOB. Entropy Technologies LP acquired a new position in Live Oak Bancshares in the 3rd quarter valued at about $205,000. Apollon Wealth Management LLC purchased a new position in shares of Live Oak Bancshares in the 3rd quarter valued at approximately $231,000. Harbor Capital Advisors Inc. increased its holdings in shares of Live Oak Bancshares by 15.3% in the third quarter. Harbor Capital Advisors Inc. now owns 10,876 shares of the bank’s stock valued at $515,000 after purchasing an additional 1,443 shares during the period. US Bancorp DE raised its stake in shares of Live Oak Bancshares by 136.0% during the third quarter. US Bancorp DE now owns 8,134 shares of the bank’s stock worth $385,000 after purchasing an additional 4,687 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Live Oak Bancshares by 161.4% during the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after purchasing an additional 1,954 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LOB. Piper Sandler dropped 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 dropped their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.50.

Live Oak Bancshares Stock Performance

NASDAQ:LOB opened at $48.49 on Wednesday. Live Oak Bancshares, Inc. has a 1 year low of $31.03 and a 1 year high of $50.57. The stock has a fifty day moving average price of $46.34 and a two-hundred day moving average price of $40.95. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 30.49 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last announced 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 company had revenue of $241.87 million during 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 quarter in the prior year, the business earned $0.88 EPS. On average, analysts predict that Live Oak Bancshares, Inc. will post 1.97 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. Live Oak Bancshares’s payout ratio is 7.55%.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares 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 transaction of $616,812.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. This trade represents a 47.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Henderson Cameron bought 1,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 202,217 shares of the company’s stock, valued at $8,040,147.92. The trade was a 0.50 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 23.90% of the company’s stock.

Live Oak Bancshares Company 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.