BlackRock Inc. Takes $143.59 Million Position in Live Oak Bancshares, Inc. $LOB

BlackRock Inc. purchased a new stake in shares of Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,515,856 shares of the company's stock, valued at approximately $143,588,000. BlackRock Inc. owned 7.60% of Live Oak Bancshares as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in Live Oak Bancshares in the second quarter valued at approximately $36,000. Larson Financial Group LLC boosted its position 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 during the period. Laurel Wealth Advisors LLC purchased a new position in shares of Live Oak Bancshares in the fourth quarter worth about $55,000. Blue Trust Inc. increased its stake in shares of 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 in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Live Oak Bancshares by 138.9% in the second 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 during the period. Hedge funds and other institutional investors own 63.95% of the company's stock.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director William L. Williams III sold 8,400 shares of Live Oak Bancshares stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $41.61, for a total transaction of $349,524.00. Following the sale, the director directly owned 1,122,526 shares of the company's stock, valued at approximately $46,708,306.86. The trade was a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $256,688.00. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. Insiders have sold 36,454 shares of company stock worth $1,526,341 over the last 90 days. 22.40% of the stock is owned by company insiders.

Live Oak Bancshares Price Performance

Shares of Live Oak Bancshares stock opened at $40.16 on Friday. Live Oak Bancshares, Inc. has a one year low of $29.36 and a one year high of $44.53. The business's 50 day simple moving average is $41.69 and its two-hundred day simple moving average is $38.36. The stock has a market capitalization of $1.86 billion, a P/E ratio of 14.14 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.64 by $0.10. The firm had revenue of $156.15 million during the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. Sell-side analysts expect that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal 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 given a dividend of $0.03 per share. 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 payout ratio is currently 4.23%.

Analyst Ratings Changes

A number of analysts recently commented on LOB shares. Weiss Ratings upgraded shares of Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. TD Cowen boosted their target price 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. Zacks Research upgraded Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Cantor Fitzgerald upped their target price 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. Finally, Keefe, Bruyette & Woods increased their price objective on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.40.

Live Oak Bancshares 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.

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