Callan Family Office LLC Makes New $534,000 Investment in Live Oak Bancshares, Inc. $LOB

Callan Family Office LLC purchased a new stake in Live Oak Bancshares, Inc. (NYSE:LOB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 13,080 shares of the company’s stock, valued at approximately $534,000.

A number of other large investors have also recently modified their holdings of LOB. Royal Bank of Canada grew its holdings in shares of Live Oak Bancshares by 28.7% during the first 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. raised its stake in Live Oak Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the company’s stock valued at $549,000 after purchasing an additional 880 shares in the last quarter. Millennium Management LLC raised its stake in Live Oak Bancshares by 655.6% in the first quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock valued at $18,339,000 after purchasing an additional 596,841 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Live Oak Bancshares by 15.2% during the first quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the company’s stock valued at $7,041,000 after purchasing an additional 34,849 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Live Oak Bancshares during the first quarter valued at approximately $1,758,000. Institutional investors own 63.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research raised shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods raised their price objective 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. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. TD Cowen upped 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 report on Monday, July 27th. Finally, Cantor Fitzgerald raised their price objective on Live Oak Bancshares from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.40.

Live Oak Bancshares Stock Down 0.6%

Live Oak Bancshares stock opened at $40.04 on Wednesday. The firm has a fifty day simple moving average of $41.58 and a two-hundred day simple moving average of $38.36. Live Oak Bancshares, Inc. has a twelve month low of $29.36 and a twelve month high of $44.53. The company has a market capitalization of $1.85 billion, a PE ratio of 14.10 and a beta of 1.87.

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

Live Oak Bancshares Dividend Announcement

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

Insiders Place Their Bets

In other news, Director David G. Lucht sold 3,000 shares of the stock in a transaction that occurred 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. This represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Michael Moroz sold 6,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total transaction of $256,688.00. Following the completion of the transaction, the insider owned 12,110 shares in the company, valued at $509,588.80. This represents a 33.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,454 shares of company stock valued at $1,526,341 in the last ninety days. Company 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.