Motley Fool Asset Management LLC Sells 28,845 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Motley Fool Asset Management LLC lowered its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 33.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,833 shares of the bank’s stock after selling 28,845 shares during the quarter. Motley Fool Asset Management LLC owned approximately 0.13% of Live Oak Bancshares worth $2,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOB. Signaturefd LLC lifted its holdings in shares of Live Oak Bancshares by 1.0% in the fourth quarter. Signaturefd LLC now owns 28,333 shares of the bank’s stock worth $1,289,000 after buying an additional 294 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Live Oak Bancshares by 66.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after buying an additional 551 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in shares of Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after buying an additional 775 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Live Oak Bancshares by 1.1% in the third quarter. Swiss National Bank now owns 73,100 shares of the bank’s stock worth $2,116,000 after buying an additional 800 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Live Oak Bancshares by 9.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,679 shares of the bank’s stock valued at $713,000 after purchasing an additional 1,296 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

NASDAQ LOB traded down $1.10 on Friday, reaching $33.18. 356,577 shares of the company’s stock traded hands, compared to its average volume of 169,779. Live Oak Bancshares, Inc. has a 12 month low of $19.53 and a 12 month high of $47.22. The stock has a 50-day simple moving average of $39.24 and a 200 day simple moving average of $37.36. The stock has a market cap of $1.49 billion, a PE ratio of 16.67 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.45%. The business had revenue of $119.68 million for the quarter, compared to the consensus estimate of $119.36 million. As a group, analysts anticipate that Live Oak Bancshares, Inc. will post 2.22 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 27th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio is 6.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LOB shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 target price (down from $45.00) on shares of Live Oak Bancshares in a research note on Friday. TheStreet downgraded shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Finally, Truist Financial lowered their target price on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and a consensus price target of $38.00.

Insider Transactions at Live Oak Bancshares

In related news, Director Miltom Emmett Petty sold 10,000 shares of Live Oak Bancshares stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the sale, the director now owns 121,941 shares in the company, valued at $4,844,715.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the transaction, the director now owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Micah S. Davis sold 8,613 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the transaction, the insider now directly owns 43,864 shares of the company’s stock, valued at approximately $1,748,857.68. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.

About Live Oak Bancshares

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.