Bank of New York Mellon Corp Takes Position in Live Oak Bancshares, Inc. $LOB

Bank of New York Mellon Corp bought a new stake in shares of Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 110,334 shares of the company's stock, valued at approximately $4,506,000. Bank of New York Mellon Corp owned approximately 0.24% of Live Oak Bancshares at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LOB. Larson Financial Group LLC lifted its stake 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 worth $51,000 after purchasing an additional 905 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Live Oak Bancshares by 671.6% during the 1st 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. Tower Research Capital LLC TRC lifted its position 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 worth $95,000 after acquiring an additional 1,850 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Live Oak Bancshares in the fourth quarter valued at approximately $187,000. Finally, CANADA LIFE ASSURANCE Co grew its position in Live Oak Bancshares by 111.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the company's stock valued at $184,000 after acquiring an additional 3,248 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOB has been the topic of a number of recent research reports. Weiss Ratings raised shares of Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods lifted 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 note on Friday, July 24th. Cantor Fitzgerald boosted their price objective on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Wednesday, August 19th. Zacks Research cut shares of Live Oak Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Finally, TD Cowen lifted their target price 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. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.40.

Insider Activity

In related news, Director David G. Lucht sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total value of $88,720.00. Following the sale, the director directly owned 13,623 shares in the company, valued at $604,316.28. This trade represents a 12.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Moroz sold 6,100 shares of Live Oak Bancshares stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total value of $256,688.00. Following the sale, the insider directly owned 12,110 shares in the company, valued at $509,588.80. The trade was a 33.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 38,264 shares of company stock valued at $1,598,741. Insiders own 22.40% of the company's stock.

Live Oak Bancshares Trading Up 0.2%

NYSE:LOB opened at $39.63 on Friday. The stock has a 50 day moving average of $41.61 and a 200-day moving average of $38.31. The firm has a market capitalization of $1.83 billion, a PE ratio of 13.95 and a beta of 1.86. Live Oak Bancshares, Inc. has a 52 week low of $29.36 and a 52 week high of $44.53.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%.The business had revenue of $156.15 million during the quarter. As a group, analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

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.

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