Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Bought by American International Group Inc.

American International Group Inc. boosted its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,203 shares of the bank’s stock after acquiring an additional 400 shares during the period. American International Group Inc.’s holdings in Live Oak Bancshares were worth $426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its stake in Live Oak Bancshares by 2.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 12,375 shares of the bank’s stock valued at $630,000 after purchasing an additional 281 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Live Oak Bancshares by 4.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,383 shares of the bank’s stock valued at $351,000 after purchasing an additional 572 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Live Oak Bancshares by 12.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,463 shares of the bank’s stock valued at $165,000 after purchasing an additional 616 shares during the last quarter. First Trust Advisors LP raised its stake in Live Oak Bancshares by 0.9% in the 1st quarter. First Trust Advisors LP now owns 81,318 shares of the bank’s stock valued at $4,138,000 after purchasing an additional 711 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Live Oak Bancshares by 1.6% in the 1st quarter. Rhumbline Advisers now owns 46,786 shares of the bank’s stock valued at $1,140,000 after purchasing an additional 722 shares during the last quarter. Institutional investors and hedge funds own 62.12% of the company’s stock.

Insider Activity at Live Oak Bancshares

In related news, insider Renato Derraik sold 20,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $29.56, for a total value of $591,200.00. Following the completion of the sale, the insider now directly owns 12,928 shares in the company, valued at approximately $382,151.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 24.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Live Oak Bancshares from $41.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Piper Sandler upped their target price on Live Oak Bancshares from $25.00 to $34.00 in a research note on Thursday, July 27th. StockNews.com began coverage on Live Oak Bancshares in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Finally, JPMorgan Chase & Co. upgraded Live Oak Bancshares from a “neutral” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Live Oak Bancshares presently has a consensus rating of “Hold” and a consensus target price of $34.00.

Live Oak Bancshares Stock Up 3.1 %

LOB stock opened at $33.95 on Friday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 25.72 and a beta of 1.49. The business has a fifty day simple moving average of $29.66 and a 200-day simple moving average of $28.84. Live Oak Bancshares, Inc. has a 52 week low of $17.31 and a 52 week high of $38.37.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $127.30 million during the quarter, compared to the consensus estimate of $115.52 million. Live Oak Bancshares had a return on equity of 7.18% and a net margin of 8.05%. As a group, analysts expect that Live Oak Bancshares, Inc. will post 1.84 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Monday, November 27th. Live Oak Bancshares’s dividend payout ratio is presently 9.09%.

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.