Motley Fool Wealth Management LLC Sells 44,788 Shares of Live Oak Bancshares, Inc. $LOB

Motley Fool Wealth Management LLC reduced its position in Live Oak Bancshares, Inc. (NYSE:LOB) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 282,701 shares of the company’s stock after selling 44,788 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Live Oak Bancshares were worth $9,711,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LOB. Royal Bank of Canada increased its holdings in Live Oak Bancshares by 28.7% in the 1st quarter. Royal Bank of Canada now owns 18,592 shares of the company’s stock valued at $495,000 after buying an additional 4,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 during the period. Millennium Management LLC increased its holdings 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 during the period. 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 bought a new position in Live Oak Bancshares in the 1st quarter valued at about $1,758,000. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Trading Up 2.7%

Shares of Live Oak Bancshares stock opened at $38.64 on Wednesday. The firm has a market capitalization of $1.79 billion, a PE ratio of 14.80 and a beta of 1.89. The firm’s 50 day moving average is $36.55 and its 200 day moving average is $36.19. Live Oak Bancshares, Inc. has a 1 year low of $27.35 and a 1 year high of $42.89.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $145.47 million for the quarter, compared to analyst estimates of $146.02 million. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.18%. As a group, research analysts anticipate that Live Oak Bancshares, Inc. will post 2.95 earnings per share for the current year.

Live Oak Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s payout ratio is 4.60%.

Insider Activity

In related news, insider Renato Derraik sold 75,000 shares of Live Oak Bancshares stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the sale, the insider directly owned 4,243 shares in the company, valued at $160,512.69. This trade represents a 94.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LOB. Piper Sandler raised their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. TD Cowen decreased their price target on shares of Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Weiss Ratings lowered shares of Live Oak Bancshares from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.40.

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.