13,286 Shares in Live Oak Bancshares, Inc. $LOB Bought by Simplicity Wealth LLC

Simplicity Wealth LLC purchased a new position in Live Oak Bancshares, Inc. (NYSE:LOB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,286 shares of the company’s stock, valued at approximately $543,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOB. Royal Bank of Canada boosted its position in shares of Live Oak Bancshares by 28.7% during the 1st quarter. Royal Bank of Canada now owns 18,592 shares of the company’s stock worth $495,000 after purchasing an additional 4,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Live Oak Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company’s stock valued at $549,000 after buying an additional 880 shares in the last quarter. Millennium Management LLC increased its position in Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock valued at $18,339,000 after buying an additional 596,841 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Live Oak Bancshares by 15.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the company’s stock worth $7,041,000 after buying an additional 34,849 shares during the period. Finally, Empowered Funds LLC acquired a new position in Live Oak Bancshares during the 1st quarter worth approximately $1,758,000. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Stock Down 0.1%

LOB stock opened at $43.23 on Tuesday. Live Oak Bancshares, Inc. has a twelve month low of $29.36 and a twelve month high of $44.53. The stock’s 50 day moving average is $41.30 and its 200-day moving average is $38.33. The firm has a market capitalization of $2.00 billion, a PE ratio of 15.22 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen raised their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Piper Sandler upped their target price on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Cantor Fitzgerald boosted their price target on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.20.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, insider Mark Michael Moroz sold 6,100 shares of Live Oak Bancshares stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total transaction of $256,688.00. Following the transaction, the insider directly owned 12,110 shares of the company’s stock, valued at $509,588.80. The trade was a 33.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David G. Lucht sold 3,000 shares of the company’s stock in a transaction on 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 position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 36,454 shares of company stock worth $1,526,341. Corporate insiders own 22.40% of the company’s stock.

About Live Oak Bancshares

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.