JPMorgan Chase & Co. Has $5.68 Million Stock Holdings in Live Oak Bancshares, Inc. $LOB

Key Points

• JPMorgan Chase & Co. trimmed its stake in Live Oak Bancshares by 19.6% in Q3 and now holds 161,186 shares (~0.35% of the company) valued at about $5.68 million.
• Live Oak beat expectations — the company reported $0.95 EPS vs. $0.56 consensus on $161.86 million in revenue; the stock trades near $33.46 with a $1.53 billion market cap and a P/E of 15.07.
• Insiders have sold 17,412 shares (roughly $660,862) over the past 90 days, including recent sales by the general counsel and CFO, though insiders still own about 23.4% of the company.

JPMorgan Chase & Co. trimmed its holdings in Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) by 19.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,186 shares of the company's stock after selling 39,217 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Live Oak Bancshares worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in shares of Live Oak Bancshares by 60.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,364 shares of the company's stock worth $49,000 after acquiring an additional 512 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Live Oak Bancshares during the 3rd quarter valued at about $63,000. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 1,850 shares in the last quarter. CWM LLC raised its stake in shares of Live Oak Bancshares by 9.7% in the third quarter. CWM LLC now owns 4,284 shares of the company's stock worth $151,000 after purchasing an additional 380 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Live Oak Bancshares by 111.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the company's stock worth $184,000 after purchasing an additional 3,248 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Stock Up 1.2%

Live Oak Bancshares stock opened at $33.46 on Thursday. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $42.89. The company's 50 day moving average price is $36.93 and its two-hundred day moving average price is $35.24. The stock has a market cap of $1.53 billion, a P/E ratio of 15.07 and a beta of 1.90.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last released its earnings results on Wednesday, January 21st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.39. The company had revenue of $161.86 million during the quarter. Live Oak Bancshares had a return on equity of 9.71% and a net margin of 10.09%.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, March 5th. Live Oak Bancshares's dividend payout ratio is 5.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LOB shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Live Oak Bancshares in a report on Thursday, January 22nd. Zacks Research upgraded Live Oak Bancshares from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 17th. Finally, TD Cowen cut their price objective on shares of Live Oak Bancshares from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Live Oak Bancshares presently has a consensus rating of "Hold" and a consensus price target of $44.20.

Insiders Place Their Bets

In related news, General Counsel Gregory W. Seward sold 3,000 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $36.70, for a total value of $110,100.00. Following the transaction, the general counsel directly owned 113,797 shares of the company's stock, valued at approximately $4,176,349.90. The trade was a 2.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter J. Phifer sold 4,712 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $36.58, for a total transaction of $172,364.96. Following the transaction, the chief financial officer owned 10,103 shares of the company's stock, valued at approximately $369,567.74. The trade was a 31.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,412 shares of company stock worth $660,862 over the last 90 days. Company insiders own 23.40% of the company's stock.

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.

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