Federated Hermes Inc. Has $3.37 Million Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Federated Hermes Inc. reduced its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 65.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 74,090 shares of the bank’s stock after selling 141,787 shares during the quarter. Federated Hermes Inc.’s holdings in Live Oak Bancshares were worth $3,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOB. Allspring Global Investments Holdings LLC boosted its holdings in shares of Live Oak Bancshares by 66.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock valued at $40,000 after buying an additional 551 shares during the last quarter. Blue Trust Inc. raised its position in Live Oak Bancshares by 1,127.6% during the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock worth $97,000 after acquiring an additional 1,962 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after acquiring an additional 775 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Live Oak Bancshares by 48.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock valued at $177,000 after acquiring an additional 2,002 shares during the period. Finally, Ballentine Partners LLC bought a new position in shares of Live Oak Bancshares in the 3rd quarter valued at about $210,000. 63.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LOB has been the subject of several recent analyst reports. 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 reaffirmed a “market perform” rating and issued a $40.00 price objective (down from $45.00) on shares of Live Oak Bancshares in a research report on Friday. Finally, Truist Financial decreased their target price on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Live Oak Bancshares presently has a consensus rating of “Hold” and an average target price of $38.00.

Live Oak Bancshares Stock Down 3.2 %

Live Oak Bancshares stock opened at $33.18 on Friday. The company’s 50-day moving average price is $39.24 and its two-hundred day moving average price is $37.36. The stock has a market cap of $1.49 billion, a P/E ratio of 16.67 and a beta of 1.60. 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 posted its earnings results on Wednesday, January 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.20). The firm had revenue of $119.68 million during the quarter, compared to analyst estimates of $119.36 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.45%. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders 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 0.36%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio is 6.03%.

Insiders Place Their Bets

In other news, insider Micah S. Davis sold 8,613 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the completion of the sale, the insider now owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction, the director now owns 121,941 shares in the company, valued at approximately $4,844,715.93. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, 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. Company insiders own 23.90% of the company’s stock.

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.