Live Oak Bancshares, Inc. $LOB Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lessened its holdings in Live Oak Bancshares, Inc. (NYSE:LOB) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,093 shares of the company’s stock after selling 17,931 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Live Oak Bancshares were worth $7,011,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Live Oak Bancshares by 13.6% in the third quarter. Envestnet Asset Management Inc. now owns 205,933 shares of the company’s stock worth $7,253,000 after purchasing an additional 24,664 shares during the period. Tudor Investment Corp ET AL boosted its holdings in Live Oak Bancshares by 39.4% in the third quarter. Tudor Investment Corp ET AL now owns 175,667 shares of the company’s stock worth $6,187,000 after purchasing an additional 49,644 shares during the period. Sovran Advisors LLC acquired a new position in Live Oak Bancshares in the fourth quarter worth $1,134,000. NewEdge Wealth LLC acquired a new position in Live Oak Bancshares in the fourth quarter worth $43,261,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Live Oak Bancshares by 7,761.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 103,063 shares of the company’s stock worth $3,577,000 after purchasing an additional 101,752 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on LOB shares. Piper Sandler lifted their price objective on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods reduced their price target on shares of Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, April 21st. Finally, TD Cowen reduced their price target on shares of Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating for the company in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Live Oak Bancshares has an average rating of “Hold” and a consensus price target of $44.40.

Insider Buying and Selling

In related news, insider Renato Derraik sold 75,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $37.83, for a total value of $2,837,250.00. Following the completion of the sale, the insider owned 4,243 shares of the company’s stock, valued at $160,512.69. This represents a 94.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Gregory W. Seward sold 3,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $36.70, for a total transaction of $110,100.00. Following the completion of the sale, the general counsel directly owned 113,797 shares of the company’s stock, valued at $4,176,349.90. The trade was a 2.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,712 shares of company stock valued at $3,119,715 over the last 90 days. 22.40% of the stock is currently owned by company insiders.

Live Oak Bancshares Stock Performance

Shares of LOB opened at $37.26 on Friday. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 14.27 and a beta of 1.92. The firm has a fifty day moving average of $35.31 and a 200-day moving average of $35.63. Live Oak Bancshares, Inc. has a 1 year low of $26.19 and a 1 year high of $42.89.

Live Oak Bancshares (NYSE:LOB) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. The business had revenue of $145.47 million during the quarter, compared to the consensus estimate of $146.02 million. Live Oak Bancshares had a net margin of 11.79% and a return on equity of 11.18%. Analysts predict that Live Oak Bancshares, Inc. will post 2.95 EPS for the current year.

Live Oak Bancshares Announces Dividend

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

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.