New York State Teachers Retirement System Has $150,000 Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

New York State Teachers Retirement System increased its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 161.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,165 shares of the bank’s stock after acquiring an additional 1,954 shares during the period. New York State Teachers Retirement System’s holdings in Live Oak Bancshares were worth $150,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC increased its position in Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after purchasing an additional 700 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Live Oak Bancshares by 68.4% during the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after buying an additional 823 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after acquiring an additional 2,206 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Live Oak Bancshares during the 1st quarter valued at $129,000. Finally, SG Americas Securities LLC bought a new stake in Live Oak Bancshares during the 1st quarter worth $165,000. 63.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director William Henderson Cameron purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, with a total value of $39,760.00. Following the completion of the purchase, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William Henderson Cameron bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the acquisition, the director now directly owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John W. Sutherland sold 20,000 shares of Live Oak Bancshares stock in a transaction 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 directly owns 26,603 shares of the company’s stock, valued at approximately $1,143,929. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.

Live Oak Bancshares Stock Performance

Shares of NASDAQ LOB opened at $46.51 on Monday. Live Oak Bancshares, Inc. has a 52-week low of $29.26 and a 52-week high of $50.57. The company’s 50 day moving average price is $45.26 and its 200-day moving average price is $39.91. The company has a market capitalization of $2.09 billion, a P/E ratio of 29.25 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $241.87 million for the quarter, compared to the consensus estimate of $126.63 million. During the same period last year, the company posted $0.88 EPS. Analysts forecast that Live Oak Bancshares, Inc. will post 2.09 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 7.55%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LOB. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. Piper Sandler cut their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Truist Financial decreased their price objective on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.