Motley Fool Asset Management LLC Decreases Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Motley Fool Asset Management LLC lessened its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 33.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 56,833 shares of the bank’s stock after selling 28,845 shares during the period. Motley Fool Asset Management LLC’s holdings in Live Oak Bancshares were worth $2,586,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Live Oak Bancshares by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,481,557 shares of the bank’s stock valued at $71,841,000 after acquiring an additional 15,863 shares during the last quarter. Trust Co of the South bought a new position in shares of Live Oak Bancshares during the 4th quarter worth $15,042,000. American Century Companies Inc. grew its position in shares of Live Oak Bancshares by 1.6% during the 3rd quarter. American Century Companies Inc. now owns 287,714 shares of the bank’s stock worth $8,329,000 after buying an additional 4,470 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Live Oak Bancshares by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 256,252 shares of the bank’s stock worth $7,418,000 after buying an additional 6,066 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Live Oak Bancshares by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock worth $5,708,000 after buying an additional 2,721 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $39.73, for a total value of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares in the company, valued at $4,844,715.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Micah S. Davis sold 8,613 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the transaction, the insider now directly owns 43,864 shares in the company, valued at $1,748,857.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Miltom Emmett Petty sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $39.73, for a total value of $397,300.00. Following the completion of the transaction, the director now owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LOB. TheStreet downgraded Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Truist Financial dropped their price target on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.00.

Live Oak Bancshares Stock Performance

LOB stock traded down $1.10 during trading on Friday, reaching $33.18. 356,577 shares of the company traded hands, compared to its average volume of 169,779. Live Oak Bancshares, Inc. has a 12 month low of $19.53 and a 12 month high of $47.22. The business has a 50 day simple moving average of $39.24 and a 200 day simple moving average of $37.36. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 16.67 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.45%. The company had revenue of $119.68 million for the quarter, compared to the consensus estimate of $119.36 million. As a group, research analysts forecast that Live Oak Bancshares, Inc. will post 2.22 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio (DPR) 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.