Trillium Asset Management LLC raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB – Free Report) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,912 shares of the bank’s stock after purchasing an additional 795 shares during the quarter. Trillium Asset Management LLC’s holdings in Live Oak Bancshares were worth $1,287,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of LOB. State Street Corp boosted its holdings in shares of Live Oak Bancshares by 74.9% during the 1st quarter. State Street Corp now owns 2,278,820 shares of the bank’s stock valued at $115,969,000 after acquiring an additional 976,101 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Live Oak Bancshares during the 1st quarter valued at $17,570,000. Southernsun Asset Management LLC boosted its holdings in shares of Live Oak Bancshares by 146.1% during the 1st quarter. Southernsun Asset Management LLC now owns 920,206 shares of the bank’s stock valued at $22,425,000 after acquiring an additional 546,224 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Live Oak Bancshares by 4.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,640,107 shares of the bank’s stock worth $191,143,000 after purchasing an additional 223,059 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Live Oak Bancshares by 22.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,191,270 shares of the bank’s stock worth $29,031,000 after purchasing an additional 217,178 shares during the last quarter. Institutional investors and hedge funds own 62.12% of the company’s stock.
Insider Buying and Selling
In related news, insider Renato Derraik sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $29.56, for a total transaction of $591,200.00. Following the transaction, the insider now directly owns 12,928 shares of the company’s stock, valued at approximately $382,151.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 24.90% of the stock is owned by company insiders.
Live Oak Bancshares Trading Down 1.8 %
Live Oak Bancshares (NASDAQ:LOB – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.39. Live Oak Bancshares had a return on equity of 7.18% and a net margin of 8.05%. The firm had revenue of $127.30 million during the quarter, compared to analyst estimates of $115.52 million. On average, analysts forecast that Live Oak Bancshares, Inc. will post 1.84 earnings per share for the current year.
Live Oak Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Tuesday, September 5th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Friday, September 1st. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 9.09%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on LOB shares. JPMorgan Chase & Co. raised Live Oak Bancshares from a “neutral” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Thursday, October 5th. Piper Sandler raised their target price on Live Oak Bancshares from $25.00 to $34.00 in a research report on Thursday, July 27th. Truist Financial lowered their target price on Live Oak Bancshares from $41.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, September 27th. Finally, StockNews.com started coverage on Live Oak Bancshares in a research report on Thursday, October 5th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.00.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. It operates in two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, certificate of deposits, savings, and time deposits.
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