Man Group plc Invests $2.94 Million in Live Oak Bancshares, Inc. $LOB

Key Points

• Man Group plc acquired 71,864 shares of Live Oak Bancshares in the second quarter, valued at approximately $2.94 million. Institutional investors collectively own 63.95% of the company.
• Analysts remain generally bullish, with Live Oak Bancshares carrying a “Moderate Buy” consensus rating and an average price target of $46.40. The company also exceeded quarterly earnings expectations, reporting $0.74 EPS versus the $0.64 consensus estimate.
• LOB shares opened at $39.31, down 2%, while the company declared a quarterly dividend of $0.03 per share. Insiders have sold 36,454 shares worth roughly $1.53 million over the past 90 days.

Man Group plc bought a new position in shares of Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,864 shares of the company's stock, valued at approximately $2,935,000. Man Group plc owned about 0.16% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Jupiter Topco LLC bought a new stake in Live Oak Bancshares in the 2nd quarter valued at $574,000. Hsbc Holdings PLC bought a new position in shares of Live Oak Bancshares during the 2nd quarter valued at about $326,000. PDT Partners LLC purchased a new position in shares of Live Oak Bancshares during the second quarter valued at about $1,267,000. Legal & General Group Plc purchased a new position in shares of Live Oak Bancshares during the second quarter valued at about $1,480,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Live Oak Bancshares in the second quarter worth about $11,563,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LOB shares. Weiss Ratings upgraded Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Cantor Fitzgerald raised 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. TD Cowen lifted their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Zacks Research raised Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods increased their target price on Live Oak Bancshares from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Live Oak Bancshares presently has an average rating of "Moderate Buy" and an average target price of $46.40.

Live Oak Bancshares Trading Down 2.0%

Shares of NYSE LOB opened at $39.31 on Tuesday. Live Oak Bancshares, Inc. has a 12-month low of $29.36 and a 12-month high of $44.53. The firm's 50-day moving average price is $41.71 and its 200-day moving average price is $38.33. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 13.84 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 EPS for the quarter, topping 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 company had revenue of $156.15 million during the quarter. On average, equities analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

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

Insider Transactions at Live Oak Bancshares

In other news, insider Mark Michael Moroz sold 6,100 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 12,110 shares of the company's stock, valued at approximately $509,588.80. The trade was a 33.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David G. Lucht sold 3,000 shares of the stock in a transaction on Monday, July 27th. The shares were 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 $658,196.99. The trade was a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 36,454 shares of company stock worth $1,526,341. 22.40% of the stock is currently owned by company insiders.

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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