Blue Trust Inc. Has $3.37 Million Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Blue Trust Inc. lowered its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 71.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,171 shares of the bank’s stock after selling 181,823 shares during the period. Blue Trust Inc. owned about 0.16% of Live Oak Bancshares worth $3,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new position in Live Oak Bancshares in the 1st quarter valued at approximately $28,000. Independence Bank of Kentucky acquired a new stake in Live Oak Bancshares in the first quarter valued at $44,000. nVerses Capital LLC raised its position in Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after purchasing an additional 700 shares during the last quarter. Quest Partners LLC lifted its holdings in Live Oak Bancshares by 68.4% during the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after buying an additional 823 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after buying an additional 2,206 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

NASDAQ:LOB opened at $49.34 on Friday. Live Oak Bancshares, Inc. has a one year low of $26.11 and a one year high of $50.57. The company has a market cap of $2.22 billion, a PE ratio of 24.79 and a beta of 1.60. The firm has a 50-day moving average of $44.62 and a 200-day moving average of $39.42.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The firm had revenue of $232.61 million during the quarter, compared to analyst estimates of $123.08 million. During the same period in the previous year, the company posted $0.39 EPS. On average, equities research analysts expect that Live Oak Bancshares, Inc. will post 2.31 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio is 6.03%.

Insider Transactions at Live Oak Bancshares

In related news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the transaction, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 23.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LOB. Truist Financial upped their price objective on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Piper Sandler boosted their price objective on Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and a consensus price target of $48.75.

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.