Whittier Trust Co. Has $7.64 Million Stake in Live Oak Bancshares, Inc. $LOB

Whittier Trust Co. increased its position in Live Oak Bancshares, Inc. (NYSE:LOB) by 13.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 225,955 shares of the company’s stock after buying an additional 27,078 shares during the period. Whittier Trust Co. owned 0.49% of Live Oak Bancshares worth $7,640,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mendon Capital Advisors Corp grew its position in Live Oak Bancshares by 0.5% in the fourth quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the company’s stock worth $1,718,000 after acquiring an additional 250 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Live Oak Bancshares by 3.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 13,028 shares of the company’s stock valued at $448,000 after purchasing an additional 416 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Live Oak Bancshares by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 6,467 shares of the company’s stock worth $222,000 after purchasing an additional 418 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Live Oak Bancshares by 1.2% in the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock worth $1,323,000 after purchasing an additional 468 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Live Oak Bancshares by 6.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,889 shares of the company’s stock worth $271,000 after buying an additional 506 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director William L. Williams III sold 8,400 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $41.61, for a total value of $349,524.00. Following the completion of the sale, the director directly owned 1,122,526 shares of the company’s stock, valued at $46,708,306.86. This represents a 0.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Renato Derraik sold 75,000 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $37.83, for a total transaction of $2,837,250.00. Following the completion of the sale, the insider owned 4,243 shares in the company, valued at $160,512.69. This represents a 94.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 91,800 shares of company stock worth $3,523,194. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TD Cowen reduced their price target on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Piper Sandler raised their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Zacks Research upgraded Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Keefe, Bruyette & Woods reduced their target price on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings upgraded Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Live Oak Bancshares has a consensus rating of “Hold” and a consensus price target of $44.40.

Live Oak Bancshares Trading Down 0.7%

NYSE:LOB traded down $0.29 during mid-day trading on Tuesday, hitting $41.51. 8,449 shares of the company’s stock traded hands, compared to its average volume of 293,660. The firm has a 50 day moving average of $38.23 and a two-hundred day moving average of $37.11. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $42.89. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 15.94 and a beta of 1.88.

Live Oak Bancshares (NYSE:LOB) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. Live Oak Bancshares had a return on equity of 11.18% and a net margin of 11.79%.The company had revenue of $145.47 million for the quarter, compared to the consensus estimate of $146.02 million. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a $0.03 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 4.60%.

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.