Sovran Advisors LLC Makes New Investment in Live Oak Bancshares, Inc. $LOB

Sovran Advisors LLC bought a new stake in shares of Live Oak Bancshares, Inc. (NYSE:LOB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,951 shares of the company’s stock, valued at approximately $1,134,000. Sovran Advisors LLC owned 0.07% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission.

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

Live Oak Bancshares Stock Performance

LOB opened at $33.39 on Monday. The company has a market cap of $1.53 billion, a P/E ratio of 15.04 and a beta of 1.90. The company’s 50 day moving average is $36.66 and its 200-day moving average is $35.19. Live Oak Bancshares, Inc. has a 1-year low of $22.68 and a 1-year high of $42.89.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings data on Wednesday, January 21st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.39. Live Oak Bancshares had a net margin of 10.09% and a return on equity of 9.71%. The business had revenue of $161.86 million during the quarter.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Stockholders of record on Thursday, March 5th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, March 5th. Live Oak Bancshares’s dividend payout ratio is presently 5.41%.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, CFO Walter J. Phifer sold 4,712 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $36.58, for a total value of $172,364.96. Following the completion of the transaction, the chief financial officer directly owned 10,103 shares in the company, valued at approximately $369,567.74. This trade represents a 31.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Courtney Spencer sold 9,700 shares of Live Oak Bancshares stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $39.01, for a total value of $378,397.00. Following the sale, the insider directly owned 25,160 shares in the company, valued at $981,491.60. The trade was a 27.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,412 shares of company stock valued at $660,862 over the last quarter. 23.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LOB. Zacks Research upgraded shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. TD Cowen cut their target price on Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Oak Bancshares in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.20.

Live Oak Bancshares 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.