Patriot Investment Management Group Inc. Sells 415 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Patriot Investment Management Group Inc. lessened its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,978 shares of the bank’s stock after selling 415 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Live Oak Bancshares were worth $355,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in LOB. Quarry LP lifted its position in shares of Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 354 shares during the last quarter. nVerses Capital LLC raised its stake in shares of Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after acquiring an additional 700 shares in the last quarter. New York State Teachers Retirement System lifted its position in Live Oak Bancshares by 161.4% during the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock valued at $150,000 after acquiring an additional 1,954 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Live Oak Bancshares in the third quarter valued at approximately $205,000. Finally, Entropy Technologies LP purchased a new position in Live Oak Bancshares in the third quarter worth $205,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 14.0 %

Shares of LOB opened at $35.07 on Friday. Live Oak Bancshares, Inc. has a 12 month low of $31.03 and a 12 month high of $50.57. The firm has a market cap of $1.58 billion, a P/E ratio of 24.18 and a beta of 1.69. The stock’s 50 day moving average is $42.51 and its two-hundred day moving average is $43.18.

Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a net margin of 7.10% and a return on equity of 6.88%. The firm had revenue of $241.87 million for the quarter, compared to analyst estimates of $126.63 million. During the same period in the previous year, the company earned $0.88 EPS. Equities research analysts forecast that Live Oak Bancshares, Inc. will post 2.52 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, December 2nd. Live Oak Bancshares’s payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LOB. Truist Financial lowered their price objective on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Piper Sandler lowered their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $44.00 target price (down previously from $48.00) on shares of Live Oak Bancshares in a research note on Friday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director William Henderson Cameron bought 1,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was bought at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the purchase, the director now directly owns 202,217 shares in the company, valued at $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John W. Sutherland sold 12,588 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total value of $616,812.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. This trade represents a 47.32 % decrease in their position. The disclosure for this sale can be found here. 23.90% of the stock is owned by insiders.

About Live Oak Bancshares

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.