49 Wealth Management LLC Acquires 212 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

49 Wealth Management LLC increased its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 2.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,212 shares of the bank’s stock after buying an additional 212 shares during the period. 49 Wealth Management LLC’s holdings in Live Oak Bancshares were worth $484,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. ProShare Advisors LLC increased its stake in shares of Live Oak Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock worth $251,000 after purchasing an additional 476 shares in the last quarter. Cetera Advisors LLC boosted its holdings in shares of Live Oak Bancshares by 9.2% in the first quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock worth $245,000 after acquiring an additional 500 shares during the period. nVerses Capital LLC grew its position in shares of Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 700 shares in the last quarter. Chatham Capital Group Inc. boosted its stake in Live Oak Bancshares by 1.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock worth $1,536,000 after purchasing an additional 735 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Live Oak Bancshares by 68.4% in 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 in the last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Up 3.4 %

Shares of LOB opened at $47.61 on Friday. The stock has a market capitalization of $2.15 billion, a P/E ratio of 29.94 and a beta of 1.63. Live Oak Bancshares, Inc. has a twelve month low of $31.03 and a twelve month high of $50.57. The firm has a fifty day simple moving average of $46.16 and a two-hundred day simple moving average of $40.64.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The firm had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. Sell-side analysts expect that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.03 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 7.55%.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares 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 completion of the transaction, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Henderson Cameron purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was acquired at an average price of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on LOB. Truist Financial cut their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. Piper Sandler dropped their target price on shares of 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. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.50.

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.