Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOBFree Report) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 336,397 shares of the bank’s stock after selling 33,767 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.76% of Live Oak Bancshares worth $15,306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. lifted its position in Live Oak Bancshares by 1,127.6% in the 4th quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after purchasing an additional 1,962 shares during the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Live Oak Bancshares by 34.8% during the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after buying an additional 775 shares during the last quarter. Arbor Investment Advisors LLC acquired a new position in shares of Live Oak Bancshares during the fourth quarter worth approximately $211,000. Apollon Wealth Management LLC bought a new position in Live Oak Bancshares in the 4th quarter worth approximately $216,000. Finally, Quantbot Technologies LP increased its position in Live Oak Bancshares by 45.8% in the 3rd quarter. Quantbot Technologies LP now owns 7,637 shares of the bank’s stock valued at $221,000 after acquiring an additional 2,398 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total value of $93,522.00. Following the transaction, the director now owns 5,870 shares in the company, valued at $211,143.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 23.90% of the company’s stock.

Live Oak Bancshares Stock Performance

LOB opened at $32.42 on Monday. The company has a market capitalization of $1.46 billion, a PE ratio of 16.29 and a beta of 1.62. The stock’s fifty day moving average is $36.01 and its 200-day moving average is $38.45. Live Oak Bancshares, Inc. has a one year low of $23.98 and a one year high of $47.22.

Live Oak Bancshares (NASDAQ:LOBGet Free Report) last released its earnings results on Wednesday, April 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.12). Live Oak Bancshares had a return on equity of 10.25% and a net margin of 10.62%. The firm had revenue of $116.21 million for the quarter, compared to analyst estimates of $118.89 million. On average, equities research analysts forecast that Live Oak Bancshares, Inc. will post 1.99 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $0.03 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.37%. Live Oak Bancshares’s payout ratio is currently 6.03%.

Analyst Ratings Changes

A number of research analysts have issued reports on LOB shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a research report on Friday, April 26th. Truist Financial decreased their target price on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Read Our Latest Research Report on LOB

Live Oak Bancshares Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Live Oak Bancshares (NASDAQ:LOB)

Receive News & Ratings for Live Oak Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Oak Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.