Motley Fool Wealth Management LLC Has $7.15 Million Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Motley Fool Wealth Management LLC lessened its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 150,913 shares of the bank’s stock after selling 2,454 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Live Oak Bancshares were worth $7,149,000 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. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Live Oak Bancshares by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock valued at $54,701,000 after acquiring an additional 15,496 shares during the period. Dimensional Fund Advisors LP grew its stake in Live Oak Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock valued at $49,169,000 after acquiring an additional 48,018 shares during the period. abrdn plc acquired a new stake in Live Oak Bancshares in the third quarter valued at approximately $14,501,000. Charles Schwab Investment Management Inc. grew its stake in Live Oak Bancshares by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,821 shares of the bank’s stock valued at $13,208,000 after acquiring an additional 8,116 shares during the period. Finally, Blue Trust Inc. grew its stake in Live Oak Bancshares by 12,211.1% in the second quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after acquiring an additional 250,939 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 2.4 %

Shares of Live Oak Bancshares stock opened at $45.92 on Wednesday. The business’s fifty day simple moving average is $46.22 and its 200 day simple moving average is $41.44. The firm has a market capitalization of $2.08 billion, a P/E ratio of 28.88 and a beta of 1.66. Live Oak Bancshares, Inc. has a 12 month low of $31.03 and a 12 month high of $50.57.

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

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.03 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.26%. Live Oak Bancshares’s payout ratio is presently 7.55%.

Insider Buying and Selling at Live Oak Bancshares

In related news, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the purchase, the director now owns 202,217 shares in the company, valued at $8,040,147.92. This trade represents a 0.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John W. Sutherland sold 12,588 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total value of $616,812.00. Following the sale, the chief accounting officer now owns 14,015 shares in the company, valued at approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LOB. Piper Sandler cut their target price on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Truist Financial cut their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. One research 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.50.

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.