Diamond Hill Capital Management LLC Investment Advisor bought a new position in Live Oak Bancshares, Inc. (NYSE:LOB – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 179,294 shares of the company’s stock, valued at approximately $7,322,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.39% of Live Oak Bancshares as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in Live Oak Bancshares by 28.7% during the 1st quarter. Royal Bank of Canada now owns 18,592 shares of the company’s stock valued at $495,000 after acquiring an additional 4,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Live Oak Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company’s stock worth $549,000 after purchasing an additional 880 shares during the period. Millennium Management LLC increased its stake in Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock worth $18,339,000 after purchasing an additional 596,841 shares during the period. Goldman Sachs Group Inc. lifted its position in Live Oak Bancshares by 15.2% in the first quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the company’s stock valued at $7,041,000 after purchasing an additional 34,849 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Live Oak Bancshares in the first quarter valued at approximately $1,758,000. 63.95% of the stock is owned by institutional investors.
Live Oak Bancshares Trading Down 0.1%
Live Oak Bancshares stock opened at $43.23 on Tuesday. The business’s fifty day simple moving average is $41.30 and its two-hundred day simple moving average is $38.33. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $44.53. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 15.22 and a beta of 1.87.
Insider Activity at Live Oak Bancshares
In related news, Director William L. Williams III sold 8,400 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $43.08, for a total transaction of $361,872.00. Following the sale, the director directly owned 1,114,126 shares of the company’s stock, valued at $47,996,548.08. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David G. Lucht sold 2,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total value of $88,720.00. Following the completion of the sale, the director owned 13,623 shares of the company’s stock, valued at $604,316.28. The trade was a 12.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,454 shares of company stock valued at $1,526,341 over the last ninety days. Insiders own 22.40% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on LOB shares. Zacks Research raised shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Cantor Fitzgerald upped their price objective on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Piper Sandler increased their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, TD Cowen raised their target price on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.20.
View Our Latest Stock Analysis on Live Oak Bancshares
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.
The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.
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