Loomis Sayles & Co. L P Buys 7,662 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Loomis Sayles & Co. L P increased its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 221,263 shares of the bank’s stock after purchasing an additional 7,662 shares during the period. Loomis Sayles & Co. L P’s holdings in Live Oak Bancshares were worth $10,481,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC boosted its position in Live Oak Bancshares by 68.4% during the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock valued at $71,000 after buying an additional 823 shares during the period. nVerses Capital LLC grew its stake in shares of Live Oak Bancshares by 87.5% in the third quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after purchasing an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Live Oak Bancshares by 1,885.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,206 shares during the period. Public Employees Retirement System of Ohio bought a new position in Live Oak Bancshares during the 1st quarter valued at approximately $129,000. Finally, New York State Teachers Retirement System lifted its holdings in Live Oak Bancshares by 161.4% in the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after buying an additional 1,954 shares during the period. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LOB has been the topic of several research analyst reports. Truist Financial reduced their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Piper Sandler reduced their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Live Oak Bancshares has an average rating of “Hold” and a consensus price target of $45.50.

Live Oak Bancshares Stock Performance

Shares of NASDAQ:LOB opened at $48.23 on Thursday. The firm has a market capitalization of $2.18 billion, a P/E ratio of 30.50 and a beta of 1.63. The stock has a 50 day moving average price of $46.35 and a 200-day moving average price of $41.04. Live Oak Bancshares, Inc. has a 52-week low of $31.03 and a 52-week high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The firm had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same quarter last year, the company posted $0.88 EPS. On average, equities analysts forecast that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Monday, December 2nd. Live Oak Bancshares’s payout ratio is currently 7.55%.

Insiders Place Their Bets

In related news, Director William Henderson Cameron purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the purchase, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. This represents a 0.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total value of $616,812.00. Following the transaction, the chief accounting officer now owns 14,015 shares of the company’s stock, valued at $686,735. The trade was a 47.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company’s stock.

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.