Swiss National Bank Lowers Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Swiss National Bank lessened its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 10.3% during the fourth quarter, HoldingsChannel reports. The firm owned 65,600 shares of the bank’s stock after selling 7,500 shares during the quarter. Swiss National Bank’s holdings in Live Oak Bancshares were worth $2,985,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Cornercap Investment Counsel Inc. acquired a new position in Live Oak Bancshares in the fourth quarter valued at $1,285,000. Trust Co of the South acquired a new stake in Live Oak Bancshares in the 4th quarter worth about $15,042,000. CenterBook Partners LP grew its holdings in Live Oak Bancshares by 41.3% in the 3rd quarter. CenterBook Partners LP now owns 137,966 shares of the bank’s stock valued at $3,994,000 after buying an additional 40,343 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Live Oak Bancshares during the 3rd quarter valued at about $994,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Live Oak Bancshares by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock valued at $5,708,000 after acquiring an additional 2,721 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LOB shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 target price (down from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. TheStreet lowered shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Finally, Truist Financial dropped their price objective on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.00.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $35.41 on Thursday. Live Oak Bancshares, Inc. has a one year low of $21.55 and a one year high of $47.22. The company’s 50 day moving average price is $37.57 and its 200 day moving average price is $38.28. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.79 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Wednesday, April 24th. The bank reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.12). Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.25%. The business had revenue of $116.21 million during the quarter, compared to analysts’ expectations of $118.89 million. Sell-side analysts forecast that Live Oak Bancshares, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Live Oak Bancshares

In other news, insider Micah S. Davis sold 8,613 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was 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 Securities & Exchange Commission, which is available through this link. In related news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total transaction of $93,522.00. Following the sale, the director now owns 5,870 shares of the company’s stock, valued at approximately $211,143.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 have sold 21,213 shares of company stock valued at $834,222 over the last three months. 23.90% of the stock is 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.