Raymond James Financial Services Advisors Inc. Purchases New Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Raymond James Financial Services Advisors Inc. purchased a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,252 shares of the bank’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Profit Investment Management LLC increased its stake in shares of Live Oak Bancshares by 6.2% in the 4th quarter. Profit Investment Management LLC now owns 128,846 shares of the bank’s stock valued at $5,862,000 after purchasing an additional 7,513 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Live Oak Bancshares by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,481,557 shares of the bank’s stock valued at $71,841,000 after purchasing an additional 15,863 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Live Oak Bancshares by 1.6% in the 3rd quarter. American Century Companies Inc. now owns 287,714 shares of the bank’s stock valued at $8,329,000 after purchasing an additional 4,470 shares in the last quarter. Algert Global LLC increased its stake in Live Oak Bancshares by 53.1% during the 3rd quarter. Algert Global LLC now owns 63,208 shares of the bank’s stock worth $1,830,000 after buying an additional 21,924 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its stake in Live Oak Bancshares by 2.0% during the 3rd quarter. Motley Fool Asset Management LLC now owns 85,678 shares of the bank’s stock worth $2,480,000 after buying an additional 1,662 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

Shares of Live Oak Bancshares stock opened at $38.41 on Tuesday. The stock has a market cap of $1.72 billion, a P/E ratio of 23.42 and a beta of 1.60. The stock’s 50 day simple moving average is $39.34 and its 200-day simple moving average is $37.30. Live Oak Bancshares, Inc. has a 1-year low of $19.53 and a 1-year high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data 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 9.24% and a return on equity of 8.67%. The business had revenue of $119.68 million during the quarter, compared to analyst estimates of $119.36 million. As a group, research analysts expect that Live Oak Bancshares, Inc. will post 2.22 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio is presently 7.32%.

Insider Activity at Live Oak Bancshares

In related news, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 in the company, valued at $1,748,857.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the company’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 transaction, the director now directly owns 121,941 shares in the company, valued at $4,844,715.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $39.87, for a total value of $343,400.31. Following the transaction, the insider now owns 43,864 shares in the company, valued at $1,748,857.68. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LOB has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on Live Oak Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Truist Financial reiterated a “buy” rating and set a $47.00 price objective on shares of Live Oak Bancshares in a research note on Monday, April 1st. Finally, StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One investment 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

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.