Oppenheimer Asset Management Inc. Takes Position in Live Oak Bancshares, Inc. $LOB

Oppenheimer Asset Management Inc. purchased a new position in shares of Live Oak Bancshares, Inc. (NYSE:LOB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 49,094 shares of the company’s stock, valued at approximately $2,005,000.

Several other institutional investors and hedge funds have also modified their holdings of LOB. William Blair Investment Management LLC acquired a new stake in Live Oak Bancshares in the fourth quarter valued at about $22,278,000. NewEdge Wealth LLC acquired a new position in Live Oak Bancshares during the fourth quarter worth about $43,261,000. UBS Group AG raised its stake in 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 acquiring an additional 36,525 shares in the last quarter. Royce & Associates LP bought a new position in shares of Live Oak Bancshares in the fourth quarter worth about $8,496,000. Finally, WCM Investment Management LLC bought a new position in shares of Live Oak Bancshares in the first quarter worth about $4,955,000. 63.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LOB shares. TD Cowen raised their price target on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Cantor Fitzgerald upped their price objective on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Piper Sandler increased 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 note on Monday, April 27th. Zacks Research upgraded shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.20.

Live Oak Bancshares Price Performance

Shares of NYSE LOB opened at $43.21 on Monday. The company has a 50 day simple moving average of $41.19 and a 200 day simple moving average of $38.30. The firm has a market cap of $2.00 billion, a PE ratio of 15.22 and a beta of 1.87. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $44.53.

Live Oak Bancshares (NYSE:LOB) last posted its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. The firm had revenue of $156.15 million for the quarter. As a group, research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

Insider Transactions at Live Oak Bancshares

In related news, Director David G. Lucht sold 3,000 shares of the business’s 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 of the company’s stock, valued at $658,196.99. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Michael Moroz sold 6,100 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total value of $256,688.00. Following the completion of the sale, the insider owned 12,110 shares of the company’s stock, valued at $509,588.80. The trade was a 33.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 36,454 shares of company stock worth $1,526,341. Company insiders own 22.40% of the company’s stock.

Live Oak Bancshares Company 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.