Raymond James & Associates Has $2.97 Million Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Raymond James & Associates lessened its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB – Get Rating) by 18.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,085 shares of the bank’s stock after selling 22,088 shares during the quarter. Raymond James & Associates owned 0.22% of Live Oak Bancshares worth $2,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Glassman Wealth Services acquired a new position in Live Oak Bancshares during the second quarter worth $51,000. Whittier Trust Co. acquired a new position in Live Oak Bancshares during the third quarter worth $50,000. Point72 Hong Kong Ltd boosted its holdings in Live Oak Bancshares by 82.9% during the first quarter. Point72 Hong Kong Ltd now owns 2,785 shares of the bank’s stock worth $142,000 after purchasing an additional 1,262 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Live Oak Bancshares during the first quarter worth $204,000. Finally, Envestnet Asset Management Inc. acquired a new position in Live Oak Bancshares during the first quarter worth $213,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

Live Oak Bancshares Trading Up 2.7 %

NASDAQ LOB opened at $30.84 on Friday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 6.79 and a beta of 1.49. The firm’s fifty day moving average price is $31.63 and its two-hundred day moving average price is $33.60. Live Oak Bancshares, Inc. has a 1 year low of $27.50 and a 1 year high of $68.31.

Live Oak Bancshares (NASDAQ:LOB – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The bank reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.51. The company had revenue of $141.61 million for the quarter, compared to analyst estimates of $105.63 million. Live Oak Bancshares had a net margin of 31.34% and a return on equity of 27.07%. On average, research analysts anticipate that Live Oak Bancshares, Inc. will post 4.24 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 13th. Stockholders of record on Tuesday, November 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, November 28th. Live Oak Bancshares’s payout ratio is presently 2.64%.

Insider Activity

In related news, Director William Henderson Cameron acquired 1,000 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were bought at an average cost of $30.45 per share, with a total value of $30,450.00. Following the completion of the transaction, the director now directly owns 167,217 shares of the company’s stock, valued at $5,091,757.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 25.70% of the company’s stock.

Analysts Set New Price Targets

LOB has been the subject of several recent research reports. Piper Sandler reduced their target price on shares of Live Oak Bancshares from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, September 28th. Truist Financial reduced their target price on shares of Live Oak Bancshares from $40.00 to $38.00 in a report on Friday, December 9th. JPMorgan Chase & Co. lowered shares of Live Oak Bancshares from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $34.00 to $30.00 in a research report on Tuesday, December 13th. Finally, StockNews.com lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.50.

About Live Oak Bancshares

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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. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.