Motley Fool Wealth Management LLC Lowers Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Motley Fool Wealth Management LLC cut its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 37.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 152,429 shares of the bank’s stock after selling 90,190 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Live Oak Bancshares were worth $6,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Live Oak Bancshares by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,481,557 shares of the bank’s stock valued at $71,841,000 after buying an additional 15,863 shares in the last quarter. Trust Co of the South purchased a new stake in shares of Live Oak Bancshares during the 4th quarter valued at $15,042,000. American Century Companies Inc. grew its holdings 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 valued at $8,329,000 after purchasing an additional 4,470 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $7,418,000 after purchasing an additional 6,066 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 2,721 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Insiders Place Their Bets

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 owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 121,941 shares of the company’s stock, valued at approximately $4,844,715.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Insiders own 23.90% of the company’s stock.

Analyst Ratings Changes

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

Live Oak Bancshares Price Performance

Live Oak Bancshares stock traded down $1.10 during trading hours on Friday, reaching $33.18. The stock had a trading volume of 356,577 shares, compared to its average volume of 146,885. The stock 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 52 week low of $19.53 and a 52 week high of $47.22. The company has a fifty day simple moving average of $39.11 and a 200-day simple moving average of $37.39.

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

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were issued 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.