one8zero8 LLC Makes New $857,000 Investment in Live Oak Bancshares, Inc. $LOB

one8zero8 LLC purchased a new position in Live Oak Bancshares, Inc. (NYSE:LOB) during the second quarter, HoldingsChannel.com reports. The fund purchased 20,985 shares of the company’s stock, valued at approximately $857,000.

A number of other hedge funds have also recently 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 lifted its stake in Live Oak Bancshares by 157.4% in the fourth 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 fourth quarter worth $55,000. Blue Trust Inc. boosted its holdings in Live Oak Bancshares by 671.6% in the first 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Live Oak Bancshares by 138.9% in the second 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 in the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 3.9%

Shares of LOB opened at $40.93 on Thursday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 14.41 and a beta of 1.87. The business’s fifty day simple moving average is $41.43 and its two-hundred day simple moving average is $38.37. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $44.53.

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

Live Oak Bancshares Dividend Announcement

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

Insider Activity

In other Live Oak Bancshares news, Director William L. Williams III sold 8,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $41.61, for a total transaction of $349,524.00. Following the sale, the director owned 1,122,526 shares in the company, valued at approximately $46,708,306.86. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 owned 12,110 shares in the company, valued at approximately $509,588.80. This trade represents a 33.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,454 shares of company stock valued at $1,526,341 in the last ninety days. Corporate insiders own 22.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LOB. TD Cowen increased their price target 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. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Piper Sandler increased 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 research note on Wednesday, August 5th. Finally, Cantor Fitzgerald lifted their price target on Live Oak Bancshares from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.40.

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.