Profit Investment Management LLC Lowers Position in Live Oak Bancshares, Inc. $LOB

Profit Investment Management LLC lessened its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 32.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 48,274 shares of the bank’s stock after selling 22,861 shares during the period. Live Oak Bancshares accounts for about 2.1% of Profit Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. Profit Investment Management LLC owned approximately 0.11% of Live Oak Bancshares worth $1,700,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in shares of Live Oak Bancshares by 2.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,876 shares of the bank’s stock valued at $384,000 after buying an additional 345 shares in the last quarter. Invesco Ltd. lifted its holdings in Live Oak Bancshares by 0.9% during the first quarter. Invesco Ltd. now owns 51,152 shares of the bank’s stock valued at $1,364,000 after purchasing an additional 432 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Live Oak Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the bank’s stock valued at $549,000 after purchasing an additional 880 shares in the last quarter. Howe & Rusling Inc. boosted its position in shares of Live Oak Bancshares by 11.0% in the second quarter. Howe & Rusling Inc. now owns 10,929 shares of the bank’s stock worth $326,000 after purchasing an additional 1,081 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Live Oak Bancshares by 15.0% in the second quarter. SG Americas Securities LLC now owns 8,509 shares of the bank’s stock worth $254,000 after purchasing an additional 1,110 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Down 0.5%

Shares of Live Oak Bancshares stock opened at $36.46 on Monday. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $41.56. The business has a 50-day moving average price of $32.92 and a 200-day moving average price of $33.24. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 25.15 and a beta of 2.05.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 2nd. Live Oak Bancshares’s dividend payout ratio is 8.05%.

Insider Activity at Live Oak Bancshares

In related news, General Counsel Gregory W. Seward sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $30.20, for a total transaction of $36,240.00. Following the sale, the general counsel owned 106,126 shares of the company’s stock, valued at $3,205,005.20. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tonya Williams Bradford acquired 1,000 shares of the stock in a transaction on Thursday, November 20th. The shares were acquired at an average price of $30.24 per share, with a total value of $30,240.00. Following the transaction, the director directly owned 6,697 shares of the company’s stock, valued at $202,517.28. The trade was a 17.55% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 23.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on LOB. Cantor Fitzgerald started coverage on shares of Live Oak Bancshares in a research note on Wednesday, September 10th. They set a “neutral” rating and a $42.00 target price on the stock. National Bankshares set a $50.00 price objective on Live Oak Bancshares in a research report on Wednesday, September 24th. Piper Sandler dropped their price objective on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Finally, Cowen started coverage on Live Oak Bancshares in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Live Oak Bancshares Profile

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.