Deutsche Bank AG Invests $3.90 Million in Live Oak Bancshares, Inc. $LOB

Deutsche Bank AG purchased a new position in Live Oak Bancshares, Inc. (NYSE:LOB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 95,469 shares of the company’s stock, valued at approximately $3,899,000.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Wealth LLC purchased a new position in shares of Live Oak Bancshares in the fourth quarter valued at $43,261,000. William Blair Investment Management LLC purchased a new stake in shares of Live Oak Bancshares in the 4th quarter worth about $22,278,000. Millennium Management LLC grew its stake 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 acquiring an additional 596,841 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in Live Oak Bancshares in the 4th quarter valued at about $19,181,000. Finally, Ameriprise Financial Inc. grew its stake in Live Oak Bancshares by 366.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 519,957 shares of the company’s stock valued at $18,313,000 after acquiring an additional 408,591 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Stock Down 0.6%

Shares of Live Oak Bancshares stock opened at $40.04 on Wednesday. Live Oak Bancshares, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $44.53. The firm has a market cap of $1.85 billion, a PE ratio of 14.10 and a beta of 1.87. The business’s fifty day moving average is $41.58 and its two-hundred day moving average is $38.36.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current year.

Live Oak Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LOB shares. Cantor Fitzgerald lifted their target price on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. 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. Keefe, Bruyette & Woods raised their price objective on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. TD Cowen lifted their price objective 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 upgraded Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.40.

Insider Buying and Selling at Live Oak Bancshares

In other news, insider Mark Michael Moroz sold 6,100 shares of the stock in a transaction dated 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 in the company, valued at $509,588.80. This represents a 33.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William L. Williams III sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 in the company, valued at $47,996,548.08. This represents a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,454 shares of company stock worth $1,526,341 in the last 90 days. 22.40% of the stock is owned by company insiders.

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.