Russell Investments Group Ltd. Has $960,000 Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Russell Investments Group Ltd. cut its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB – Get Rating) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,784 shares of the bank’s stock after selling 1,469 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of Live Oak Bancshares worth $960,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nuveen Asset Management LLC increased its position in shares of Live Oak Bancshares by 3.6% during the third quarter. Nuveen Asset Management LLC now owns 267,338 shares of the bank’s stock worth $8,180,000 after buying an additional 9,412 shares during the period. AlphaCrest Capital Management LLC grew its holdings in Live Oak Bancshares by 7.3% in the third quarter. AlphaCrest Capital Management LLC now owns 23,969 shares of the bank’s stock worth $733,000 after purchasing an additional 1,624 shares during the period. TD Asset Management Inc. grew its holdings in Live Oak Bancshares by 6.5% in the third quarter. TD Asset Management Inc. now owns 64,674 shares of the bank’s stock worth $2,003,000 after purchasing an additional 3,932 shares during the period. Commonwealth Equity Services LLC grew its holdings in Live Oak Bancshares by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 97,586 shares of the bank’s stock worth $2,986,000 after purchasing an additional 780 shares during the period. Finally, Signaturefd LLC grew its holdings in Live Oak Bancshares by 2.4% in the fourth quarter. Signaturefd LLC now owns 28,241 shares of the bank’s stock worth $853,000 after purchasing an additional 651 shares during the period. 63.28% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock opened at $22.02 on Friday. Live Oak Bancshares, Inc. has a fifty-two week low of $17.31 and a fifty-two week high of $43.72. The stock has a market cap of $975.71 million, a PE ratio of 6.95 and a beta of 1.46. The firm’s 50-day simple moving average is $23.37 and its 200 day simple moving average is $29.24.

Live Oak Bancshares (NASDAQ:LOB – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The bank reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.35). Live Oak Bancshares had a return on equity of 17.61% and a net margin of 19.52%. The firm had revenue of $101.60 million for the quarter, compared to analysts’ expectations of $111.27 million. As a group, analysts predict that Live Oak Bancshares, Inc. will post 1.21 EPS for the current fiscal year.

Analysts Set New Price Targets

LOB has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price target on shares of Live Oak Bancshares from $33.00 to $27.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com upgraded shares of Live Oak Bancshares to a “sell” rating in a report on Monday, April 17th. JPMorgan Chase & Co. upgraded shares of Live Oak Bancshares from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $25.00 to $26.50 in a report on Friday, April 28th. Truist Financial reduced their price objective on shares of Live Oak Bancshares from $29.00 to $26.00 in a report on Tuesday, May 2nd. Finally, Piper Sandler reduced their price objective on shares of Live Oak Bancshares from $27.00 to $25.00 in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $26.13.

Insider Buying and Selling

In related news, Director David G. Lucht bought 5,000 shares of the company’s stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $20.02 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now directly owns 20,739 shares in the company, valued at $415,194.78. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 24.90% of the stock is owned by corporate insiders.

Live Oak Bancshares Profile

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Live Oak Bancshares, Inc is a bank holding company for Live Oak Banking Company, which operates as a national online platform for small business lending. It operates through the following segments: Banking, Fintech, and Other. The Banking segment provides financing services to small businesses nationwide in targeted industries and deposit-related services to small businesses, consumers, and other customers nationwide.