Legal & General Group Plc bought a new stake in Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,337 shares of the company's stock, valued at approximately $1,480,000. Legal & General Group Plc owned approximately 0.08% of Live Oak Bancshares as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of Live Oak Bancshares in the second quarter valued at approximately $36,000. Larson Financial Group LLC raised its holdings in Live Oak Bancshares by 157.4% during the fourth quarter. Larson Financial Group LLC now owns 1,480 shares of the company's stock worth $51,000 after purchasing an additional 905 shares in the last quarter. Blue Trust Inc. lifted its position in Live Oak Bancshares by 671.6% in the first quarter. Blue Trust Inc. now owns 2,122 shares of the company's stock worth $70,000 after purchasing an additional 1,847 shares during the period. Tower Research Capital LLC TRC boosted 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 purchasing an additional 1,850 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Live Oak Bancshares during the 4th quarter valued at $187,000. 63.95% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
LOB has been the topic of a number of research reports. Cantor Fitzgerald boosted their price objective on Live Oak Bancshares from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. Zacks Research lowered Live Oak Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Keefe, Bruyette & Woods boosted their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. TD Cowen upped their price target on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a "buy" rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Live Oak Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $46.40.
Get Our Latest Stock Report on LOB
Insiders Place Their Bets
In other Live Oak Bancshares news, insider Mark Moroz sold 6,100 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total value of $256,688.00. Following the completion of the transaction, the insider directly owned 12,110 shares in the company, valued at $509,588.80. This trade represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David Lucht sold 2,000 shares of Live Oak Bancshares stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total transaction of $88,720.00. Following the completion of the transaction, the director directly owned 13,623 shares in the company, valued at approximately $604,316.28. This trade represents a 12.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 38,264 shares of company stock worth $1,598,741. Company insiders own 22.40% of the company's stock.
Live Oak Bancshares Stock Performance
NYSE LOB opened at $39.63 on Monday. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $44.53. The business's fifty day moving average is $41.61 and its two-hundred day moving average is $38.30. The stock has a market capitalization of $1.83 billion, a P/E ratio of 13.95 and a beta of 1.86.
Live Oak Bancshares (NYSE:LOB - Get Free Report) last released 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 business 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%. On average, research analysts forecast that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.
Live Oak Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Live Oak Bancshares's dividend payout ratio (DPR) is currently 4.23%.
Live Oak Bancshares 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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