On August 26, 2023, it was reported that Barrow Hanley Mewhinney & Strauss LLC had purchased a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) during the first quarter of the year. According to the company’s recent 13F filing with the Securities and Exchange Commission, the institutional investor acquired 720,950 shares of the bank’s stock, valued at approximately $17,570,000. This purchase meant that Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.63% of Live Oak Bancshares as of its most recent filing with the SEC.
Live Oak Bancshares is a financial institution listed on NASDAQ under the ticker symbol LOB. The bank released its earnings results on July 25th, reporting earnings per share (EPS) of $0.39 for the quarter. This surpassed analysts’ consensus estimates by $0.08. Demonstrating a net margin of 9.02% and a return on equity of 7.66%, Live Oak Bancshares achieved positive financial performance in this period.
Furthermore, Live Oak Bancshares recorded revenue of $108.46 million for the quarterslightly higher than analyst estimates of $107.30 million. These solid financial results indicate a positive trend for the bank’s operations during this fiscal year.
The stock has attracted attention from several research analysts recently. StockNews.com initiated coverage on Live Oak Bancshares with a “sell” rating on August 17th. Piper Sandler also provided insight into the stock by raising their price target from $25.00 to $34.00 in their research note published on July 27th.
Additionally, VNET Group reiterated their “maintains” rating on Live Oak Bancshares while Truist Financial increased their price target from $26 to $28 in separate research reports released on June 29th.
JPMorgan Chase & Co. also had positive sentiments towards Live Oak Bancshares as they raised their price target from $26.50 to $32 in their research note on the same day. These various rating actions demonstrate a mixed sentiment toward the stock, with one analyst issuing a sell rating, four analysts advising to hold, and one analyst recommending a buy.
Overall, Live Oak Bancshares has garnered an average rating of “Hold” from Bloomberg’s data, with a consensus target price of $30.25. This reflects the uncertainty surrounding the stock’s performance and potential future growth.
Investors and market participants will continue to monitor Live Oak Bancshares closely as the bank progresses through its current fiscal year. The decisions made by institutional investors like Barrow Hanley Mewhinney & Strauss LLC highlight confidence in the bank’s prospects, but it remains to be seen how other analysts and investors perceive the future trajectory of Live Oak Bancshares’ stock.
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[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”LOB” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Live Oak Bancshares, a prominent financial institution, has recently seen some notable changes in its ownership and stock positioning. Several hedge funds and institutional investors have made significant shifts in their positions within the company. Amundi, for instance, has entered the fray by purchasing a new stake in Live Oak Bancshares during the fourth quarter of last year.
Amundi’s investment in Live Oak Bancshares amounted to approximately $92,000a modest yet noteworthy addition to the firm’s portfolio. Additionally, Global Retirement Partners LLC witnessed a 36.5% surge in its position during the first quarter. The firm now owns 4,371 shares of Live Oak Bancshares’ stock, an accumulation valued at $95,000 after acquiring 1,169 additional shares.
Furthermore, US Bancorp DE experienced a 25.6% increase in its holdings of Live Oak Bancshares during the first quarter as well. With an additional purchase of 1,041 shares, valued at around $124,000 altogether, this marks a strategic move by US Bancorp DE to strengthen its position within the bank.
Another noteworthy change is Point72 Hong Kong Ltd’s rose by 82.9% in ownership percentage with an acquisition of 1,262 more shares. Currently worth $142,000 and holding 2,785 total shares of Live Oak Bancshares’ stock.
In another intriguing development highlighting investor interest in Live Oak Bancshares is Ensign Peak Advisors Inc’s astounding increase in position during the third quarter326.3%, to be exact. The company now possesses a sizable stake of approximately $154,000 after purchasing an unbelievable amount of 3,850 additional shares of the bank’s stock.
It is important to note that these hedge funds and institutional investors collectively own an impressive portion63.33%of Live Oak Bancshares’ company stock. This level of investment from various sources signifies confidence and belief in the growth potential and stability of Live Oak Bancshares in the current financial landscape.
In a separate transaction, Director William Henderson Cameron joined the ranks of shareholders by acquiring 4,000 shares of Live Oak Bancshares’ stock. With an average cost of $24.37 per share and a total value of $97,480.00, this investment further solidifies the director’s commitment to the company. As a result of this acquisition, Cameron now possesses 171,217 shares directlya valuation amounting to an impressive $4,172,558.29 as per recent reports.
These acquisitions were officially disclosed in a filing with the Securities and Exchange Commission (SEC), serving as a transparent declaration of insider ownership updates. Interestingly, insiderssuch as directors and high-ranking executivescurrently possess 24.90% of the company’s outstanding shares.
Meanwhile, the latest trading data on NASDAQ reveals that Live Oak Bancshares’ stock (NASDAQ:LOB) experienced a minimal decrease of $0.06 per share during midday trading on August 26th. The stock reached $33.25 with a volume of 25,570 shares tradedan activity level considered below its average volume which stands at an estimated 299,064 shares.
Over the past year, Live Oak Bancshares has seen significant fluctuations in its market performance reflected in its price range between a yearly low of $17.31 and a high mark of $39.40 achieved during different periods within that timeframe.
The firm currently holds a market capitalization level standing at around $1.47 billion while maintaining a relatively moderate price-to-earnings (P/E) ratio of 23.79 within its sectora characteristic often evaluated when assessing investment opportunities.
In conclusion, Live Oak Bancshares remains under close observation due to recent changes in ownership across various hedge funds and institutional investors such as Amundi, Global Retirement Partners LLC, US Bancorp DE, Point72 Hong Kong Ltd, and Ensign Peak Advisors Inc. These firms have made strategic moves to strengthen their positions within the bank and have led to a high concentration of company stock ownership by hedge funds and institutional investors. Additionally, Director William Henderson Cameron’s recent acquisition of Live Oak Bancshares’ shares further bolsters confidence in the company’s future prospects.
