Parsons Capital Management Inc. RI Has $573,000 Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Parsons Capital Management Inc. RI increased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 4.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,800 shares of the bank’s stock after purchasing an additional 600 shares during the period. Parsons Capital Management Inc. RI’s holdings in Live Oak Bancshares were worth $573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOB. SG Americas Securities LLC acquired a new position in Live Oak Bancshares in the 3rd quarter worth approximately $420,000. Ballentine Partners LLC acquired a new stake in shares of Live Oak Bancshares during the 3rd quarter valued at $210,000. Bank of New York Mellon Corp boosted its stake 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 valued at $5,708,000 after buying an additional 2,721 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Live Oak Bancshares by 48.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock valued at $177,000 after buying an additional 2,002 shares during the period. Finally, Chatham Capital Group Inc. acquired a new stake in shares of Live Oak Bancshares during the 3rd quarter valued at $1,162,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

Live Oak Bancshares Trading Down 3.2 %

LOB traded down $1.10 during trading on Friday, hitting $33.18. The stock had a trading volume of 356,577 shares, compared to its average volume of 146,885. The firm has a market cap of $1.49 billion, a PE ratio of 16.67 and a beta of 1.60. Live Oak Bancshares, Inc. has a 12 month low of $19.53 and a 12 month high of $47.22. The company has a 50 day simple moving average of $39.11 and a 200-day simple moving average of $37.45.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.20). The company had revenue of $119.68 million during the quarter, compared to analyst estimates of $119.36 million. Live Oak Bancshares had a return on equity of 10.45% and a net margin of 10.62%. As a group, sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 2.11 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.12 annualized dividend and a yield of 0.36%. Live Oak Bancshares’s dividend payout ratio is 6.03%.

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.