Whittier Trust Co. of Nevada Inc. Acquires 101,752 Shares of Live Oak Bancshares, Inc. $LOB

Whittier Trust Co. of Nevada Inc. lifted its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 7,761.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,063 shares of the bank’s stock after buying an additional 101,752 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Live Oak Bancshares were worth $3,577,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of Live Oak Bancshares by 2.8% during the second quarter. Nisa Investment Advisors LLC now owns 12,876 shares of the bank’s stock valued at $384,000 after acquiring an additional 345 shares during the period. CWM LLC boosted its stake in shares of Live Oak Bancshares by 9.7% in the 3rd quarter. CWM LLC now owns 4,284 shares of the bank’s stock valued at $151,000 after purchasing an additional 380 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Live Oak Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the bank’s stock worth $549,000 after buying an additional 880 shares during the period. Parsons Capital Management Inc. RI raised its stake in shares of Live Oak Bancshares by 6.5% during the third quarter. Parsons Capital Management Inc. RI now owns 14,700 shares of the bank’s stock worth $518,000 after buying an additional 900 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its holdings in Live Oak Bancshares by 11.0% in the second quarter. Howe & Rusling Inc. now owns 10,929 shares of the bank’s stock valued at $326,000 after buying an additional 1,081 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their target price on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Insiders Place Their Bets

In related news, General Counsel Gregory W. Seward sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $30.20, for a total value of $36,240.00. Following the transaction, the general counsel directly owned 106,126 shares in the company, valued at approximately $3,205,005.20. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tonya Williams Bradford purchased 1,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average price of $30.24 per share, with a total value of $30,240.00. Following the completion of the transaction, the director owned 6,697 shares of the company’s stock, valued at $202,517.28. This represents a 17.55% increase in their position. The disclosure for this purchase is available in the SEC filing. 23.40% of the stock is currently owned by corporate insiders.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $39.30 on Monday. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $42.89. The stock’s 50 day moving average price is $34.68 and its two-hundred day moving average price is $34.44. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 27.10 and a beta of 2.02.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, December 2nd. Live Oak Bancshares’s payout ratio is currently 5.41%.

About Live Oak Bancshares

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.