Walleye Capital LLC acquired a new stake in Live Oak Bancshares, Inc. (NYSE:LOB – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 39,973 shares of the company’s stock, valued at approximately $1,632,000. Walleye Capital LLC owned approximately 0.09% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in shares of Live Oak Bancshares by 157.4% in the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock valued at $51,000 after buying an additional 905 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new position in Live Oak Bancshares during the fourth quarter worth about $55,000. Blue Trust Inc. boosted its position in Live Oak Bancshares by 671.6% during the first quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock worth $70,000 after acquiring an additional 1,847 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Live Oak Bancshares by 138.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock valued at $95,000 after acquiring an additional 1,850 shares in the last quarter. Finally, CWM LLC grew its stake in Live Oak Bancshares by 15.0% during the 4th quarter. CWM LLC now owns 4,926 shares of the company’s stock valued at $169,000 after acquiring an additional 642 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.
Analyst Ratings Changes
LOB has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Zacks Research raised Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. TD Cowen lifted their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Cantor Fitzgerald boosted their price objective on Live Oak Bancshares from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.20.
Insider Transactions at Live Oak Bancshares
In related news, insider Mark Michael Moroz sold 6,100 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total transaction of $256,688.00. Following the completion of the sale, the insider directly owned 12,110 shares of the company’s stock, valued at approximately $509,588.80. This trade represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William L. Williams III sold 8,400 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $41.61, for a total transaction of $349,524.00. Following the completion of the sale, the director owned 1,122,526 shares in the company, valued at approximately $46,708,306.86. This trade 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. In the last ninety days, insiders sold 36,454 shares of company stock worth $1,526,341. 22.40% of the stock is currently owned by company insiders.
Live Oak Bancshares Stock Performance
LOB stock opened at $43.21 on Friday. Live Oak Bancshares, Inc. has a one year low of $29.36 and a one year high of $44.53. The firm has a market cap of $2.00 billion, a PE ratio of 15.22 and a beta of 1.87. The firm’s 50 day moving average price is $41.19 and its 200-day moving average price is $38.31.
Live Oak Bancshares (NYSE:LOB – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. The company had revenue of $156.15 million during the quarter. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%. Equities research analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.
Live Oak Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio is currently 4.23%.
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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