Barrow Hanley Mewhinney & Strauss LLC Buys New Shares in Live Oak Bancshares, Inc. $LOB

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 1.36 million Live Oak Bancshares shares worth approximately $55.5 million, giving it a 2.94% stake. Institutional investors collectively own 63.95% of the company.
• Insiders sold 36,454 shares valued at roughly $1.53 million over the past 90 days, including transactions by Director David G. Lucht and insider Mark Michael Moroz.
• Live Oak Bancshares beat quarterly earnings expectations, reporting $0.74 in EPS versus the $0.64 consensus, while analysts maintain a “Moderate Buy” consensus and an average price target of $46.40. The company also declared a quarterly dividend of $0.03 per share.

Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,360,091 shares of the company's stock, valued at approximately $55,546,000. Barrow Hanley Mewhinney & Strauss LLC owned about 2.94% of Live Oak Bancshares at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Live Oak Bancshares by 28.7% in the first quarter. Royal Bank of Canada now owns 18,592 shares of the company's stock valued at $495,000 after acquiring an additional 4,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Live Oak Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company's stock worth $549,000 after acquiring an additional 880 shares during the period. Millennium Management LLC boosted its stake in shares of Live Oak Bancshares by 655.6% during the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company's stock valued at $18,339,000 after purchasing an additional 596,841 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Live Oak Bancshares by 15.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the company's stock valued at $7,041,000 after acquiring an additional 34,849 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Live Oak Bancshares during the first quarter valued at approximately $1,758,000. Institutional investors own 63.95% of the company's stock.

Insider Buying and Selling

In other Live Oak Bancshares news, Director David G. Lucht sold 3,000 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $42.13, for a total value of $126,390.00. Following the sale, the director owned 15,623 shares in the company, valued at approximately $658,196.99. This represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Michael Moroz sold 6,100 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total transaction of $256,688.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 36,454 shares of company stock valued at $1,526,341 over the last 90 days. Insiders own 22.40% of the company's stock.

Live Oak Bancshares Price Performance

Shares of LOB opened at $40.94 on Monday. Live Oak Bancshares, Inc. has a 1-year low of $29.36 and a 1-year high of $44.53. The company has a 50-day moving average of $41.51 and a 200 day moving average of $38.38. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.42 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. The business had revenue of $156.15 million for the quarter. On average, equities analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LOB shares. TD Cowen raised their price target on Live Oak Bancshares from $47.00 to $49.00 and gave the company a "buy" rating in a report on Monday, July 27th. Cantor Fitzgerald increased their price target on Live Oak Bancshares from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Weiss Ratings raised shares of Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their price target on Live Oak Bancshares from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Finally, Zacks Research raised shares of Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. One research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.40.

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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