Envestnet Asset Management Inc. Has $7.25 Million Position in Live Oak Bancshares, Inc. $LOB

Envestnet Asset Management Inc. grew its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 13.6% in the third quarter, Holdings Channel.com reports. The firm owned 205,933 shares of the bank’s stock after purchasing an additional 24,664 shares during the period. Envestnet Asset Management Inc.’s holdings in Live Oak Bancshares were worth $7,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LOB. Jones Financial Companies Lllp raised its position in Live Oak Bancshares by 60.1% during the third quarter. Jones Financial Companies Lllp now owns 1,364 shares of the bank’s stock valued at $49,000 after buying an additional 512 shares during the period. AlphaQuest LLC increased its holdings in shares of Live Oak Bancshares by 260.6% in the 3rd quarter. AlphaQuest LLC now owns 30,893 shares of the bank’s stock valued at $1,088,000 after purchasing an additional 22,326 shares during the period. one8zero8 LLC lifted its position in shares of Live Oak Bancshares by 9.2% in the third quarter. one8zero8 LLC now owns 77,036 shares of the bank’s stock worth $2,713,000 after purchasing an additional 6,500 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Live Oak Bancshares by 9.5% during the third quarter. Truist Financial Corp now owns 22,432 shares of the bank’s stock worth $790,000 after purchasing an additional 1,946 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Live Oak Bancshares by 7,761.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 103,063 shares of the bank’s stock valued at $3,577,000 after purchasing an additional 101,752 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Insider Buying and Selling at Live Oak Bancshares

In related news, insider Ewa Maria Stasiowska bought 2,595 shares of the business’s stock in a transaction on Monday, January 26th. The shares were bought at an average cost of $38.53 per share, for a total transaction of $99,985.35. Following the completion of the acquisition, the insider directly owned 2,595 shares in the company, valued at approximately $99,985.35. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Courtney Spencer sold 9,700 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $39.01, for a total value of $378,397.00. Following the completion of the sale, the insider directly owned 25,160 shares of the company’s stock, valued at $981,491.60. This represents a 27.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 23.40% of the company’s stock.

Live Oak Bancshares Stock Up 1.7%

LOB stock opened at $40.87 on Friday. The firm has a 50 day moving average of $37.96 and a two-hundred day moving average of $35.54. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $42.89. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 28.19 and a beta of 2.00.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 5th. Live Oak Bancshares’s dividend payout ratio is presently 5.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LOB shares. TD Cowen cut their target price on shares of Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Piper Sandler dropped their price target on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.20.

Live Oak Bancshares Company 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.