Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 65.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,090 shares of the bank’s stock after selling 141,787 shares during the period. Federated Hermes Inc. owned approximately 0.17% of Live Oak Bancshares worth $3,371,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of LOB. SG Americas Securities LLC acquired a new stake in shares of Live Oak Bancshares during the third quarter worth $420,000. Ballentine Partners LLC purchased a new stake in Live Oak Bancshares during the third quarter valued at about $210,000. Bank of New York Mellon Corp boosted its holdings in shares of Live Oak Bancshares by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock worth $5,708,000 after buying an additional 2,721 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Live Oak Bancshares by 48.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock worth $177,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Chatham Capital Group Inc. acquired a new stake in shares of Live Oak Bancshares during the third quarter valued at approximately $1,162,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Ratings Changes

LOB has been the subject of a number of recent analyst reports. Truist Financial decreased their price objective on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Friday. TheStreet downgraded Live Oak Bancshares from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price target (down from $45.00) on shares of Live Oak Bancshares in a research report 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.00.

Live Oak Bancshares Stock Down 3.2 %

Shares of NASDAQ:LOB opened at $33.18 on Friday. The firm has a fifty day moving average of $39.24 and a two-hundred day moving average of $37.36. Live Oak Bancshares, Inc. has a 12-month low of $19.53 and a 12-month high of $47.22. The firm has a market capitalization of $1.49 billion, a P/E ratio of 16.67 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.20). Live Oak Bancshares had a return on equity of 10.45% and a net margin of 10.62%. The firm had revenue of $119.68 million for the quarter, compared to analysts’ expectations of $119.36 million. Equities research analysts expect that Live Oak Bancshares, Inc. will post 2.22 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

Insider Activity at Live Oak Bancshares

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

Live Oak Bancshares 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.