Callan Family Office LLC Buys Shares of 13,080 Live Oak Bancshares, Inc. $LOB

Callan Family Office LLC bought a new stake in shares of Live Oak Bancshares, Inc. (NYSE:LOB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,080 shares of the company’s stock, valued at approximately $534,000.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Live Oak Bancshares in the second quarter valued at approximately $36,000. Larson Financial Group LLC increased its position 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 buying an additional 905 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in shares of Live Oak Bancshares in the fourth quarter valued at $55,000. Blue Trust Inc. lifted its position in shares of Live Oak Bancshares by 671.6% during the 1st quarter. Blue Trust Inc. now owns 2,122 shares of the company’s stock valued at $70,000 after buying an additional 1,847 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Live Oak Bancshares by 138.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock valued at $95,000 after buying an additional 1,850 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Performance

NYSE:LOB opened at $40.04 on Wednesday. The business’s fifty day moving average is $41.58 and its 200 day moving average is $38.36. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 14.10 and a beta of 1.87. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $44.53.

Live Oak Bancshares (NYSE:LOB) last issued its earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. The business had revenue of $156.15 million during the quarter. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%. Equities analysts predict that Live Oak Bancshares, Inc. will post 3.07 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

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

Insider Activity

In related news, Director David G. Lucht sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $42.13, for a total transaction of $126,390.00. Following the completion of the transaction, the director owned 15,623 shares of the company’s stock, valued at approximately $658,196.99. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Michael Moroz sold 6,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total transaction of $256,688.00. Following the sale, the insider directly owned 12,110 shares in the company, valued at $509,588.80. This trade represents a 33.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 36,454 shares of company stock worth $1,526,341. 22.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

LOB has been the subject of several research reports. TD Cowen increased their price target on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Cantor Fitzgerald increased their target price on shares of Live Oak Bancshares from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods lifted their target price on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Zacks Research raised shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.