Live Oak Bancshares, Inc. (NASDAQ:LOB) Position Decreased by Profit Investment Management LLC

Profit Investment Management LLC trimmed its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 40.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,135 shares of the bank’s stock after selling 48,820 shares during the quarter. Live Oak Bancshares accounts for approximately 2.7% of Profit Investment Management LLC’s portfolio, making the stock its 6th largest holding. Profit Investment Management LLC’s holdings in Live Oak Bancshares were worth $3,370,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LOB. Handelsbanken Fonder AB purchased a new position in shares of Live Oak Bancshares during the 3rd quarter worth approximately $265,000. Park Avenue Securities LLC acquired a new position in Live Oak Bancshares in the 3rd quarter valued at $205,000. SG Americas Securities LLC lifted its stake in shares of Live Oak Bancshares by 127.5% during the 3rd quarter. SG Americas Securities LLC now owns 14,293 shares of the bank’s stock worth $677,000 after purchasing an additional 8,011 shares during the period. Centaurus Financial Inc. boosted its holdings in shares of Live Oak Bancshares by 49.4% during the second quarter. Centaurus Financial Inc. now owns 11,453 shares of the bank’s stock worth $402,000 after purchasing an additional 3,788 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in shares of Live Oak Bancshares in the second quarter valued at $312,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Stock Performance

Shares of NASDAQ:LOB traded up $1.60 during midday trading on Friday, hitting $46.95. 22,227 shares of the company’s stock traded hands, compared to its average volume of 176,531. The firm’s fifty day moving average price is $43.51 and its two-hundred day moving average price is $39.08. Live Oak Bancshares, Inc. has a twelve month low of $26.11 and a twelve month high of $50.57. The company has a market cap of $2.11 billion, a PE ratio of 21.35 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Wednesday, July 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. The business had revenue of $232.61 million during the quarter, compared to analyst estimates of $123.08 million. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. During the same quarter last year, the firm earned $0.39 earnings per share. As a group, equities research analysts anticipate that Live Oak Bancshares, Inc. will post 2.31 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.26%. Live Oak Bancshares’s dividend payout ratio is presently 5.48%.

Insider Buying and Selling

In other news, CAO John W. Sutherland sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.90% of the company’s stock.

Analysts Set New Price Targets

LOB has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Truist Financial increased their price objective on shares of Live Oak Bancshares from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Piper Sandler boosted their target price on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.75.

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.