Algert Global LLC Sells 467 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Algert Global LLC trimmed its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 0.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 91,794 shares of the bank’s stock after selling 467 shares during the quarter. Algert Global LLC owned about 0.20% of Live Oak Bancshares worth $4,348,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LOB. Quest Partners LLC increased its stake in Live Oak Bancshares by 68.4% in the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after acquiring an additional 823 shares during the last quarter. nVerses Capital LLC increased its stake in shares of Live Oak Bancshares by 87.5% in the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 purchasing an additional 2,206 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Live Oak Bancshares during the 1st quarter worth $129,000. Finally, New York State Teachers Retirement System lifted its position in shares of Live Oak Bancshares by 161.4% during the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after buying an additional 1,954 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on LOB shares. Piper Sandler lowered their target price on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Truist Financial decreased their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Live Oak Bancshares currently has a consensus rating of “Hold” and an average target price of $45.50.

Insiders Place Their Bets

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

Live Oak Bancshares Trading Up 0.7 %

Shares of LOB stock opened at $47.77 on Monday. The business’s 50-day moving average price is $46.30 and its 200-day moving average price is $40.85. Live Oak Bancshares, Inc. has a 12 month low of $31.03 and a 12 month high of $50.57. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 30.04 and a beta of 1.63.

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). 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 period in the previous year, the firm earned $0.88 earnings per share. On average, sell-side analysts predict that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

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.