448,766 Shares in Live Oak Bancshares, Inc. (NASDAQ:LOB) Acquired by Capital International Investors

Capital International Investors purchased a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 448,766 shares of the bank’s stock, valued at approximately $18,628,000. Capital International Investors owned about 1.00% of Live Oak Bancshares as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in shares of Live Oak Bancshares in the 1st quarter valued at approximately $28,000. Independence Bank of Kentucky purchased a new position in shares of Live Oak Bancshares in the 1st quarter valued at approximately $44,000. Blue Trust Inc. grew its stake in shares of Live Oak Bancshares by 1,127.6% in the 4th quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after purchasing an additional 1,962 shares during the last quarter. Toth Financial Advisory Corp grew its stake in shares of Live Oak Bancshares by 34.8% in the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after purchasing an additional 775 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Live Oak Bancshares in the 1st quarter valued at approximately $165,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LOB shares. Truist Financial lowered their target price on Live Oak Bancshares from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. decreased their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.00.

Insider Transactions at Live Oak Bancshares

In other news, Director Tonya Williams Bradford sold 2,600 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total value of $93,522.00. Following the completion of the transaction, the director now directly owns 5,870 shares of the company’s stock, valued at $211,143.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.90% of the company’s stock.

Live Oak Bancshares Stock Performance

LOB stock traded up $1.30 during midday trading on Friday, hitting $45.80. 300,791 shares of the stock were exchanged, compared to its average volume of 180,247. The stock’s 50-day moving average price is $35.39 and its 200-day moving average price is $37.52. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 23.00 and a beta of 1.62. Live Oak Bancshares, Inc. has a fifty-two week low of $26.11 and a fifty-two week high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.13. The firm had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. Live Oak Bancshares had a return on equity of 11.13% and a net margin of 11.22%. During the same period in the previous year, the firm posted $0.39 earnings per share. Research analysts anticipate that Live Oak Bancshares, Inc. will post 1.93 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.12 annualized dividend and a yield of 0.26%. Live Oak Bancshares’s dividend payout ratio is presently 6.03%.

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.