Capital International Investors Buys New Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Capital International Investors bought a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 1st quarter, Holdings Channel.com reports. The firm bought 448,766 shares of the bank’s stock, valued at approximately $18,628,000.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new stake in Live Oak Bancshares in the 1st quarter valued at about $28,000. Independence Bank of Kentucky acquired a new stake in Live Oak Bancshares in the 1st quarter valued at about $44,000. Blue Trust Inc. lifted its stake in Live Oak Bancshares by 1,127.6% in the 4th quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after purchasing an additional 1,962 shares during the last quarter. Toth Financial Advisory Corp raised its holdings in Live Oak Bancshares by 34.8% in the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after acquiring an additional 775 shares during the period. Finally, SG Americas Securities LLC bought a new position in Live Oak Bancshares in the 1st quarter valued at about $165,000. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Truist Financial lowered their price target on shares of Live Oak Bancshares from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Live Oak Bancshares Stock Up 2.9 %

Shares of LOB traded up $1.30 during mid-day trading on Friday, hitting $45.80. 300,791 shares of the company’s stock were exchanged, compared to its average volume of 180,247. Live Oak Bancshares, Inc. has a 52 week low of $26.11 and a 52 week high of $47.22. The stock’s 50-day simple moving average is $35.39 and its 200-day simple moving average is $37.52. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 23.00 and a beta of 1.62.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a net margin of 11.22% and a return on equity of 11.13%. The company had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. During the same period last year, the firm earned $0.39 earnings per share. Analysts forecast that Live Oak Bancshares, Inc. will post 1.93 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, June 18th. Investors of record on Tuesday, June 4th were paid a $0.03 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.12 dividend on an annualized basis and a yield of 0.26%. Live Oak Bancshares’s dividend payout ratio (DPR) is 6.03%.

Insider Activity at Live Oak Bancshares

In related news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total value of $93,522.00. Following the transaction, the director now directly owns 5,870 shares of the company’s stock, valued at $211,143.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.90% of the stock is currently owned by insiders.

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.