Live Oak Bancshares, Inc. $LOB Position Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Live Oak Bancshares stake by 3.6% in the first quarter to 1.59 million shares, worth approximately $52.7 million. 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. Shares opened at $42.80, near their 52-week high of $43.85.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $46.20, while the company pays a quarterly dividend of $0.03 per share, yielding approximately 0.3%.

Dimensional Fund Advisors LP boosted its position in Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,593,185 shares of the company's stock after purchasing an additional 54,750 shares during the period. Dimensional Fund Advisors LP owned approximately 3.47% of Live Oak Bancshares worth $52,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOB. Vanguard Group Inc. raised its stake in shares of Live Oak Bancshares by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company's stock worth $92,835,000 after buying an additional 17,181 shares in the last quarter. State Street Corp lifted its holdings in shares of Live Oak Bancshares by 5.1% in the fourth quarter. State Street Corp now owns 1,308,462 shares of the company's stock valued at $44,946,000 after buying an additional 63,325 shares during the period. NewEdge Wealth LLC bought a new position in Live Oak Bancshares during the fourth quarter valued at about $43,261,000. Southernsun Asset Management LLC boosted its stake in Live Oak Bancshares by 15.1% during the fourth quarter. Southernsun Asset Management LLC now owns 1,029,108 shares of the company's stock valued at $35,350,000 after buying an additional 134,798 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Live Oak Bancshares by 655.6% during the first quarter. Millennium Management LLC now owns 687,885 shares of the company's stock valued at $18,339,000 after buying an additional 596,841 shares in the last quarter. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Stock Up 0.8%

Shares of NYSE LOB opened at $42.80 on Friday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 15.07 and a beta of 1.88. The stock's fifty day simple moving average is $40.07 and its 200 day simple moving average is $37.93. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $43.85.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a return on equity of 11.95% and a net margin of 12.68%.The company had revenue of $156.15 million for the quarter. As a group, analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, June 2nd. Live Oak Bancshares's payout ratio is presently 4.23%.

Insiders Place Their Bets

In other news, Director David G. Lucht sold 3,000 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $42.13, for a total transaction of $126,390.00. Following the sale, the director owned 15,623 shares in the company, valued at $658,196.99. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William L. Williams III sold 8,400 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $41.61, for a total transaction of $349,524.00. Following the completion of the sale, the director owned 1,122,526 shares of the company's stock, valued at approximately $46,708,306.86. This trade represents a 0.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,900 shares of company stock worth $1,069,022. Company insiders own 22.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Live Oak Bancshares from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 23rd. Cantor Fitzgerald raised their price objective on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Piper Sandler raised their price objective on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. TD Cowen lifted 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 note on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.20.

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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