William Blair Investment Management LLC Makes New Investment in Live Oak Bancshares, Inc. $LOB

William Blair Investment Management LLC purchased a new position in shares of Live Oak Bancshares, Inc. (NYSE:LOB) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 569,233 shares of the company’s stock, valued at approximately $23,247,000.

A number of other institutional investors have also modified their holdings of LOB. Global Retirement Partners LLC purchased a new position in shares of Live Oak Bancshares during the second quarter valued at approximately $36,000. Larson Financial Group LLC grew its stake in Live Oak Bancshares by 157.4% in the 4th quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock worth $51,000 after acquiring an additional 905 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in Live Oak Bancshares in the 4th quarter worth approximately $55,000. Blue Trust Inc. raised its holdings in Live Oak Bancshares by 671.6% in the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock valued at $70,000 after acquiring an additional 1,847 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock valued at $95,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Stock Performance

Live Oak Bancshares stock opened at $40.94 on Friday. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $44.53. The firm has a 50 day moving average price of $41.51 and a 200 day moving average price of $38.40. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 14.42 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB) last posted its quarterly 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. The company had revenue of $156.15 million for the quarter. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. Sell-side analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be 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 is Tuesday, September 1st. Live Oak Bancshares’s dividend payout ratio is presently 4.23%.

Insider Buying and Selling

In other Live Oak Bancshares news, Director David G. Lucht sold 3,000 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $42.13, for a total transaction of $126,390.00. Following the completion of the sale, the director owned 15,623 shares of the company’s stock, valued at approximately $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 is accessible through this hyperlink. Also, insider Mark Michael Moroz sold 6,100 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total value of $256,688.00. Following the sale, the insider owned 12,110 shares of the company’s stock, valued at $509,588.80. This represents a 33.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 36,454 shares of company stock valued at $1,526,341. 22.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler increased their price target on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their price objective 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. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. TD Cowen increased their target price on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.40.

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.