Live Oak Bancshares, Inc. (NASDAQ:LOB) Position Boosted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 82.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 185,309 shares of the bank’s stock after buying an additional 83,639 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.41% of Live Oak Bancshares worth $8,778,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LOB. 49 Wealth Management LLC lifted its holdings in shares of Live Oak Bancshares by 2.1% during the third quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock worth $484,000 after buying an additional 212 shares during the last quarter. Cetera Advisors LLC raised its holdings in Live Oak Bancshares by 9.2% in the first quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock worth $245,000 after purchasing an additional 500 shares during the period. FMR LLC grew its position in shares of Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after purchasing an additional 568 shares during the period. nVerses Capital LLC raised 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 period. Finally, Chatham Capital Group Inc. grew its position in Live Oak Bancshares by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock valued at $1,536,000 after purchasing an additional 735 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LOB. Truist Financial decreased their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Piper Sandler reduced their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.50.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB opened at $45.57 on Friday. The stock has a market capitalization of $2.06 billion, a P/E ratio of 28.66 and a beta of 1.66. The firm’s 50 day simple moving average is $46.23 and its two-hundred day simple moving average is $41.51. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The company had revenue of $241.87 million during the quarter, compared to analysts’ expectations of $126.63 million. During the same quarter last year, the business earned $0.88 earnings per share. As a group, equities analysts expect that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. 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 7.55%.

Insider Activity

In other news, Director William Henderson Cameron purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of $39.76 per share, with a total value of $39,760.00. Following the completion of 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.90% of the company’s stock.

About Live Oak Bancshares

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.