Trust Co of the South Purchases Shares of 330,600 Live Oak Bancshares, Inc. (NASDAQ:LOB)

Trust Co of the South purchased a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 330,600 shares of the bank’s stock, valued at approximately $15,042,000. Live Oak Bancshares makes up 4.0% of Trust Co of the South’s holdings, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOB. Allspring Global Investments Holdings LLC boosted its stake in shares of Live Oak Bancshares by 66.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after purchasing an additional 551 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of Live Oak Bancshares by 2,125.0% in the third quarter. Toth Financial Advisory Corp now owns 2,225 shares of the bank’s stock worth $64,000 after purchasing an additional 2,125 shares during the last quarter. Point72 Hong Kong Ltd boosted its position in Live Oak Bancshares by 82.9% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,785 shares of the bank’s stock valued at $142,000 after buying an additional 1,262 shares during the period. Amundi purchased a new position in Live Oak Bancshares during the 4th quarter worth $92,000. Finally, Atria Wealth Solutions Inc. bought a new stake in Live Oak Bancshares during the 1st quarter valued at $204,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. TheStreet downgraded shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Live Oak Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. StockNews.com lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Truist Financial decreased their price objective on Live Oak Bancshares from $50.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.50.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total value of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares in the company, valued at approximately $4,844,715.93. The sale was disclosed in a legal filing with the SEC, 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 dated Monday, March 11th. The shares were sold at an average price of $39.87, for a total transaction of $343,400.31. Following the completion of the transaction, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Insiders own 24.90% of the company’s stock.

Live Oak Bancshares Stock Down 1.0 %

NASDAQ:LOB traded down $0.39 during trading hours on Tuesday, reaching $39.70. 115,538 shares of the stock were exchanged, compared to its average volume of 172,623. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 24.35 and a beta of 1.59. The business has a 50-day moving average of $39.30 and a two-hundred day moving average of $35.98. Live Oak Bancshares, Inc. has a twelve month low of $19.53 and a twelve month high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last issued its 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). The firm had revenue of $119.68 million for the quarter, compared to analyst estimates of $119.36 million. Live Oak Bancshares had a return on equity of 8.67% and a net margin of 9.24%. On average, research analysts forecast that Live Oak Bancshares, Inc. will post 2.25 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. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, February 26th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. Live Oak Bancshares’s dividend payout ratio (DPR) is 7.32%.

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.