Ieq Capital LLC Invests $547,000 in Live Oak Bancshares, Inc. $LOB

Ieq Capital LLC bought a new stake in Live Oak Bancshares, Inc. (NYSE:LOB) during the second quarter, HoldingsChannel.com reports. The fund bought 13,393 shares of the company’s stock, valued at approximately $547,000.

Other hedge funds have also bought and sold shares of the company. Mendon Capital Advisors Corp increased its position in Live Oak Bancshares by 0.5% during the fourth quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the company’s stock worth $1,718,000 after buying an additional 250 shares during the last quarter. ProShare Advisors LLC raised its stake in Live Oak Bancshares by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 6,467 shares of the company’s stock valued at $222,000 after buying an additional 418 shares during the period. Federated Hermes Inc. lifted its position in shares of Live Oak Bancshares by 1.2% in the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $1,323,000 after buying an additional 468 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Live Oak Bancshares by 6.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,889 shares of the company’s stock valued at $271,000 after buying an additional 506 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Live Oak Bancshares by 0.9% in the third quarter. Swiss National Bank now owns 70,700 shares of the company’s stock valued at $2,490,000 after buying an additional 600 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Live Oak Bancshares

In other news, Director David G. Lucht sold 2,000 shares of Live Oak Bancshares stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.36, for a total transaction of $88,720.00. Following the completion of the sale, the director owned 13,623 shares of the company’s stock, valued at approximately $604,316.28. This trade represents a 12.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William L. Williams III sold 8,400 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.08, for a total transaction of $361,872.00. Following the completion of the sale, the director directly owned 1,114,126 shares of the company’s stock, valued at approximately $47,996,548.08. The trade was a 0.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 36,454 shares of company stock valued at $1,526,341. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Live Oak Bancshares Trading Up 0.5%

Live Oak Bancshares stock opened at $40.16 on Friday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 14.14 and a beta of 1.87. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $44.53. The stock’s 50 day moving average is $41.69 and its 200-day moving average is $38.36.

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

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.03 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.12 annualized dividend and a yield of 0.3%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.23%.

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.