Motley Fool Wealth Management LLC Has $9.71 Million Position in Live Oak Bancshares, Inc. $LOB

Key Points

• Motley Fool Wealth Management cut its Live Oak Bancshares stake by 13.7% in the fourth quarter, but still held 282,701 shares worth about $9.71 million at the end of the period.
• Live Oak Bancshares reported better-than-expected quarterly earnings, posting $0.60 EPS versus the $0.54 consensus estimate, while revenue came in slightly below forecasts.
• Analysts currently have a Hold consensus on the stock with an average price target of $44.40, and the company also declared a quarterly dividend of $0.03 per share.

Motley Fool Wealth Management LLC lowered its position in Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,701 shares of the company's stock after selling 44,788 shares during the quarter. Motley Fool Wealth Management LLC owned approximately 0.62% of Live Oak Bancshares worth $9,711,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in Live Oak Bancshares by 13.6% in the third quarter. Envestnet Asset Management Inc. now owns 205,933 shares of the company's stock valued at $7,253,000 after acquiring an additional 24,664 shares during the last quarter. NewEdge Wealth LLC acquired a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $43,261,000. Tudor Investment Corp ET AL lifted its stake in shares of Live Oak Bancshares by 39.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 175,667 shares of the company's stock worth $6,187,000 after buying an additional 49,644 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $22,278,000. Finally, Sovran Advisors LLC acquired a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $1,134,000. Institutional investors and hedge funds own 63.95% of the company's stock.

Insider Buying and Selling

In related news, insider Renato Derraik sold 75,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the transaction, the insider directly owned 4,243 shares of the company's stock, valued at approximately $160,512.69. This trade represents a 94.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.40% of the company's stock.

Analyst Upgrades and Downgrades

LOB has been the subject of a number of research reports. Zacks Research upgraded shares of Live Oak Bancshares from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 17th. TD Cowen cut their target price on shares of Live Oak Bancshares from $51.00 to $47.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Keefe, Bruyette & Woods cut their target price on shares of Live Oak Bancshares from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, April 24th. Weiss Ratings cut shares of Live Oak Bancshares from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 28th. Finally, Piper Sandler raised their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $44.40.

Live Oak Bancshares Stock Performance

NYSE:LOB opened at $38.64 on Wednesday. Live Oak Bancshares, Inc. has a 52 week low of $27.35 and a 52 week high of $42.89. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 14.80 and a beta of 1.89. The firm's 50-day simple moving average is $36.55 and its 200 day simple moving average is $36.19.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.18%. The business had revenue of $145.47 million for the quarter, compared to analyst estimates of $146.02 million. Sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 2.95 EPS for the current year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 2nd. Live Oak Bancshares's dividend payout ratio (DPR) is currently 4.60%.

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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