JPMorgan Chase & Co. Decreases Position in Live Oak Bancshares, Inc. $LOB

JPMorgan Chase & Co. lessened its stake in Live Oak Bancshares, Inc. (NYSE:LOB) by 19.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 161,186 shares of the company’s stock after selling 39,217 shares during the quarter. JPMorgan Chase & Co.’s holdings in Live Oak Bancshares were worth $5,677,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Millennium Management LLC grew its holdings in Live Oak Bancshares by 655.6% during the first quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock valued at $18,339,000 after purchasing an additional 596,841 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Live Oak Bancshares by 366.9% in the third quarter. Ameriprise Financial Inc. now owns 519,957 shares of the company’s stock valued at $18,313,000 after buying an additional 408,591 shares during the period. Jane Street Group LLC raised its stake in shares of Live Oak Bancshares by 1,263.2% in the first quarter. Jane Street Group LLC now owns 201,816 shares of the company’s stock valued at $5,380,000 after buying an additional 187,011 shares during the period. Whittier Trust Co. lifted its position in shares of Live Oak Bancshares by 937,663.2% during the 3rd quarter. Whittier Trust Co. now owns 178,175 shares of the company’s stock valued at $6,184,000 after buying an additional 178,156 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Live Oak Bancshares during the 2nd quarter worth $4,722,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

Shares of LOB stock opened at $33.46 on Thursday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 15.07 and a beta of 1.90. The company’s fifty day simple moving average is $36.93 and its two-hundred day simple moving average is $35.24. 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 posted its quarterly earnings results on Wednesday, January 21st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.39. The firm had revenue of $161.86 million during the quarter. Live Oak Bancshares had a return on equity of 9.71% and a net margin of 10.09%.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th were paid a $0.03 dividend. The ex-dividend date was Thursday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.4%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 5.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LOB shares. TD Cowen decreased their price objective on Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Zacks Research raised shares of Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Live Oak Bancshares in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.20.

Insider Buying and Selling

In other news, insider Courtney Spencer sold 9,700 shares of the 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 of the company’s stock, valued at approximately $981,491.60. This represents a 27.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ewa Maria Stasiowska acquired 2,595 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was purchased at an average price of $38.53 per share, with a total value of $99,985.35. Following the completion of the transaction, the insider directly owned 2,595 shares of the company’s stock, valued at $99,985.35. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 17,412 shares of company stock worth $660,862 in the last 90 days. 23.40% of the stock is owned by company insiders.

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.