Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 278,821 shares of the bank’s stock after purchasing an additional 8,116 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Live Oak Bancshares were worth $13,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Live Oak Bancshares by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank’s stock worth $54,701,000 after purchasing an additional 15,496 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Live Oak Bancshares by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after buying an additional 48,018 shares during the period. abrdn plc acquired a new stake in Live Oak Bancshares in the 3rd quarter worth about $14,501,000. Blue Trust Inc. grew its holdings in Live Oak Bancshares by 12,211.1% in the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after buying an additional 250,939 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Live Oak Bancshares by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 186,961 shares of the bank’s stock valued at $6,555,000 after acquiring an additional 8,327 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $46.42 on Monday. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57. The company’s 50 day moving average price is $46.20 and its 200 day moving average price is $41.67. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 29.19 and a beta of 1.66.

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 the consensus estimate of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 7.99% and a return on equity of 7.65%. The business had revenue of $241.87 million for the quarter, compared to analyst estimates of $126.63 million. During the same quarter in the previous year, the firm posted $0.88 EPS. Sell-side analysts forecast that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently declared 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 0.26%. The ex-dividend date is Monday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 7.55%.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director William Henderson Cameron bought 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the purchase, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The acquisition 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 Live Oak Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the sale, 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. 23.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on LOB. Truist Financial lowered their target price on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. Piper Sandler dropped their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One equities research 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. Based on data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $45.50.

Live Oak Bancshares Company 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.