89,193 Shares in Live Oak Bancshares, Inc. $LOB Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 89,193 shares of Live Oak Bancshares during the second quarter, worth approximately $3.64 million and representing about 0.19% of the company. Institutional investors and hedge funds collectively own 63.95% of the stock.
• Live Oak Bancshares reported quarterly earnings of $0.74 per share, exceeding the $0.64 consensus estimate, on revenue of $156.15 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $46.40, compared with the stock’s reported $38.62 price.
• The company declared a quarterly dividend of $0.03 per share, or $0.12 annualized, representing a 0.3% yield. Meanwhile, insiders sold 36,454 shares worth approximately $1.53 million over the last quarter.

Empowered Funds LLC acquired a new position in shares of Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 89,193 shares of the company's stock, valued at approximately $3,643,000. Empowered Funds LLC owned approximately 0.19% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in shares of Live Oak Bancshares in the second quarter worth $36,000. Larson Financial Group LLC grew its holdings in shares of Live Oak Bancshares by 157.4% during 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 in the last quarter. Blue Trust Inc. raised 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 valued at $70,000 after buying an additional 1,847 shares during the period. Centaurus Financial Inc. acquired a new position in Live Oak Bancshares during the second quarter valued at $128,000. Finally, Tower Research Capital LLC TRC lifted its stake in Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company's stock worth $95,000 after acquiring an additional 1,850 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Live Oak Bancshares Trading Down 2.0%

LOB opened at $38.62 on Wednesday. The stock has a fifty day moving average price of $41.68 and a 200 day moving average price of $38.31. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $44.53. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 13.60 and a beta of 1.86.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last issued its earnings results 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 for the quarter. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%. As a group, sell-side analysts forecast that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Live Oak Bancshares's dividend payout ratio (DPR) is presently 4.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Zacks Research upgraded Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods increased 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. 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. TD Cowen boosted their price objective on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Cantor Fitzgerald upped their price objective on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $46.40.

Insider Activity at Live Oak Bancshares

In other news, insider Mark Michael Moroz sold 6,100 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total transaction of $256,688.00. Following the transaction, the insider owned 12,110 shares in the company, valued at $509,588.80. This represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David G. Lucht sold 3,000 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $42.13, for a total transaction of $126,390.00. Following the transaction, the director owned 15,623 shares in the company, valued at approximately $658,196.99. This trade represents a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 36,454 shares of company stock valued at $1,526,341. 22.40% of the stock is currently owned by corporate insiders.

Live Oak Bancshares Company Profile

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.

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:LOB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source