Live Oak Bancshares, Inc. $LOB Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in Live Oak Bancshares, Inc. (NYSE:LOB) by 113.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,567 shares of the company’s stock after acquiring an additional 20,007 shares during the quarter. SG Americas Securities LLC owned about 0.08% of Live Oak Bancshares worth $1,242,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. NewEdge Wealth LLC acquired a new position in Live Oak Bancshares in the 4th quarter valued at about $43,261,000. William Blair Investment Management LLC acquired a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $22,278,000. Tudor Investment Corp ET AL grew its holdings in shares of Live Oak Bancshares by 39.4% during the third 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 in the last quarter. UBS Group AG grew its holdings in shares of Live Oak Bancshares by 29.4% during the fourth quarter. UBS Group AG now owns 160,710 shares of the company’s stock worth $5,520,000 after buying an additional 36,525 shares in the last quarter. Finally, Sovran Advisors LLC purchased a new stake in shares of Live Oak Bancshares during the fourth quarter worth about $1,134,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Wall Street Analysts Forecast Growth

LOB has been the topic of several recent analyst reports. TD Cowen reduced their price objective on shares of Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Piper Sandler lifted 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. Zacks Research upgraded Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Live Oak Bancshares currently has an average rating of “Hold” and a consensus price target of $44.40.

Live Oak Bancshares Price Performance

LOB opened at $40.96 on Friday. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $42.89. The business has a 50-day moving average of $38.14 and a two-hundred day moving average of $37.05. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 15.69 and a beta of 1.88.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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. Equities research analysts anticipate that Live Oak Bancshares, Inc. will post 2.95 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. 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 currently 4.60%.

Insider Buying and Selling

In other news, insider Renato Derraik sold 75,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the completion of the sale, the insider directly owned 4,243 shares in the company, valued at $160,512.69. This represents a 94.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William L. Williams III sold 8,400 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $40.05, for a total value of $336,420.00. Following the completion of the transaction, the director directly owned 1,130,926 shares in the company, valued at $45,293,586.30. This trade represents a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.40% 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.