Deutsche Bank AG Acquires Shares of 95,469 Live Oak Bancshares, Inc. $LOB

Key Points

• Deutsche Bank initiated a stake of 95,469 Live Oak Bancshares shares worth approximately $3.9 million, while institutional investors collectively own 63.95% of the company.
• Live Oak Bancshares reported quarterly EPS of $0.74, beating analyst expectations of $0.64, on revenue of $156.15 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $46.40.
• The company declared a quarterly dividend of $0.03 per share, equivalent to an annualized yield of 0.3%, while insiders sold 36,454 shares worth approximately $1.53 million over the past quarter.

Deutsche Bank AG bought a new stake in Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 95,469 shares of the company's stock, valued at approximately $3,899,000. Deutsche Bank AG owned about 0.21% of Live Oak Bancshares as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Rice Hall James & Associates LLC acquired a new position in Live Oak Bancshares in the 2nd quarter valued at about $5,724,000. Simplicity Wealth LLC acquired a new stake in Live Oak Bancshares during the 2nd quarter worth approximately $543,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Live Oak Bancshares during the 2nd quarter worth approximately $7,322,000. Global Retirement Partners LLC acquired a new stake in Live Oak Bancshares during the 2nd quarter worth approximately $36,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Live Oak Bancshares in the 2nd quarter valued at approximately $4,506,000. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Trading Down 0.6%

Shares of LOB stock opened at $40.04 on Wednesday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 14.10 and a beta of 1.87. The stock has a 50 day simple moving average of $41.58 and a 200-day simple moving average of $38.36. Live Oak Bancshares, Inc. has a 12-month low of $29.36 and a 12-month high of $44.53.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, beating the consensus estimate 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. On average, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued 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 4.23%.

Insider Buying and Selling at Live Oak Bancshares

In other news, Director William L. Williams III sold 8,400 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $43.08, for a total transaction of $361,872.00. Following the transaction, the director directly owned 1,114,126 shares of the company's stock, valued at $47,996,548.08. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David G. Lucht sold 2,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.36, for a total transaction of $88,720.00. Following the completion of the transaction, the director owned 13,623 shares of the company's stock, valued at $604,316.28. This represents a 12.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 36,454 shares of company stock valued at $1,526,341. 22.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LOB shares. Zacks Research raised Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Weiss Ratings raised 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 objective on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. TD Cowen upped their price objective on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, Cantor Fitzgerald raised their target price on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. 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 company's stock. Based on data from MarketBeat.com, the company has an average 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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