Cornercap Investment Counsel Inc. Takes Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Cornercap Investment Counsel Inc. acquired a new position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,235 shares of the bank's stock, valued at approximately $1,285,000. Cornercap Investment Counsel Inc. owned 0.06% of Live Oak Bancshares as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its holdings in Live Oak Bancshares by 74.9% during the first quarter. State Street Corp now owns 2,278,820 shares of the bank's stock valued at $115,969,000 after purchasing an additional 976,101 shares during the period. Southernsun Asset Management LLC grew its stake in shares of Live Oak Bancshares by 146.1% during the 1st quarter. Southernsun Asset Management LLC now owns 920,206 shares of the bank's stock valued at $22,425,000 after acquiring an additional 546,224 shares during the period. Trust Co of the South purchased a new stake in Live Oak Bancshares in the 4th quarter worth approximately $15,042,000. BlackRock Inc. raised its stake in Live Oak Bancshares by 12.6% during the 2nd quarter. BlackRock Inc. now owns 2,755,640 shares of the bank's stock worth $72,501,000 after acquiring an additional 307,396 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Live Oak Bancshares by 4.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,640,107 shares of the bank's stock valued at $191,143,000 after purchasing an additional 223,059 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Stock Down 1.0 %

LOB stock traded down $0.39 during mid-day trading on Monday, hitting $37.54. The company had a trading volume of 96,542 shares, compared to its average volume of 163,849. The company has a 50-day moving average price of $39.40 and a 200 day moving average price of $36.97. Live Oak Bancshares, Inc. has a 12-month low of $19.53 and a 12-month high of $47.22. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 22.89 and a beta of 1.60.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $119.36 million. Live Oak Bancshares had a return on equity of 8.67% and a net margin of 9.24%. As a group, analysts expect that Live Oak Bancshares, Inc. will post 2.22 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares's payout ratio is 7.32%.

Analyst Ratings Changes

LOB has been the subject of a number of analyst reports. TheStreet cut shares of Live Oak Bancshares from a "b-" rating to a "c+" rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods increased their price target on Live Oak Bancshares from $43.00 to $45.00 and gave the stock a "market perform" rating in a research note on Friday, January 26th. Truist Financial restated a "buy" rating and issued a $47.00 price objective on shares of Live Oak Bancshares in a research report on Monday, April 1st. Finally, StockNews.com cut Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $41.50.

Insider Buying and Selling at Live Oak Bancshares

In related news, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares 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 transaction, the insider now owns 43,864 shares in the company, valued at $1,748,857.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the sale, the director now owns 121,941 shares of the company's stock, valued at $4,844,715.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following 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. 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.