SG Americas Securities LLC Raises Stake in Live Oak Bancshares, Inc. $LOB

SG Americas Securities LLC increased its holdings in shares of Live Oak Bancshares, Inc. (NYSE:LOBFree Report) by 113.9% in the first quarter, Holdings Channel reports. The firm owned 37,567 shares of the company’s stock after acquiring an additional 20,007 shares during the period. SG Americas Securities LLC’s holdings in Live Oak Bancshares were worth $1,242,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LOB. NewEdge Wealth LLC acquired a new position in Live Oak Bancshares during the fourth quarter valued at approximately $43,261,000. William Blair Investment Management LLC acquired a new stake in shares of Live Oak Bancshares in the fourth quarter worth $22,278,000. Tudor Investment Corp ET AL increased its position in shares of Live Oak Bancshares by 39.4% in the third quarter. Tudor Investment Corp ET AL now owns 175,667 shares of the company’s stock worth $6,187,000 after acquiring an additional 49,644 shares in the last quarter. UBS Group AG raised its stake in shares of Live Oak Bancshares by 29.4% in the 4th quarter. UBS Group AG now owns 160,710 shares of the company’s stock valued at $5,520,000 after acquiring an additional 36,525 shares during the period. Finally, Sovran Advisors LLC purchased a new position in shares of Live Oak Bancshares in the 4th quarter valued at $1,134,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Insiders Place Their Bets

In other Live Oak Bancshares news, insider Renato Derraik sold 75,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $37.83, for a total value of $2,837,250.00. Following the completion of the transaction, the insider directly owned 4,243 shares of the company’s stock, valued at $160,512.69. This represents a 94.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William L. Williams III sold 8,400 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $40.05, for a total value of $336,420.00. Following the sale, the director owned 1,130,926 shares of the company’s stock, valued at $45,293,586.30. This represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.40% of the company’s stock.

Live Oak Bancshares Stock Down 0.2%

LOB opened at $40.96 on Friday. The firm has a market capitalization of $1.89 billion, a P/E ratio of 15.69 and a beta of 1.88. The firm’s 50 day moving average is $38.14 and its 200-day moving average is $37.05. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $42.89.

Live Oak Bancshares (NYSE:LOBGet Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The business had revenue of $145.47 million during the quarter, compared to the consensus estimate of $146.02 million. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.18%. Equities analysts expect that Live Oak Bancshares, Inc. will post 2.95 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were issued a $0.03 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Live Oak Bancshares’s payout ratio is currently 4.60%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LOB shares. Zacks Research upgraded shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. TD Cowen cut their price objective on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Piper Sandler boosted their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods decreased their target price on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.40.

Read Our Latest Stock Analysis on LOB

Live Oak Bancshares Company Profile

(Free Report)

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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Want to see what other hedge funds are holding LOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Oak Bancshares, Inc. (NYSE:LOBFree Report).

Institutional Ownership by Quarter for Live Oak Bancshares (NYSE:LOB)

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