Simplicity Wealth LLC Purchases New Holdings in Live Oak Bancshares, Inc. $LOB

Simplicity Wealth LLC purchased a new position in shares of Live Oak Bancshares, Inc. (NYSE:LOB) during the second quarter, Holdings Channel reports. The institutional investor purchased 13,286 shares of the company’s stock, valued at approximately $543,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LOB. NewEdge Wealth LLC purchased a new stake in shares of Live Oak Bancshares during the 4th quarter valued at $43,261,000. William Blair Investment Management LLC purchased a new position in shares of Live Oak Bancshares in the 4th quarter worth about $22,278,000. Millennium Management LLC boosted its holdings in shares of Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the company’s stock worth $18,339,000 after buying an additional 596,841 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Live Oak Bancshares during the fourth quarter valued at about $19,181,000. Finally, Ameriprise Financial Inc. grew its position in Live Oak Bancshares by 366.9% during 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. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LOB shares. Cantor Fitzgerald lifted their price objective on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler upped 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. Finally, TD Cowen increased their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.20.

Insider Buying and Selling

In other Live Oak Bancshares news, Director William L. Williams III sold 8,400 shares of Live Oak Bancshares stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $43.08, for a total transaction of $361,872.00. Following the completion of the transaction, the director owned 1,114,126 shares of the company’s stock, valued at $47,996,548.08. The trade was a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Michael Moroz sold 6,100 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total value of $256,688.00. Following the sale, the insider owned 12,110 shares in the company, valued at approximately $509,588.80. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 36,454 shares of company stock valued at $1,526,341. Corporate insiders own 22.40% of the company’s stock.

Live Oak Bancshares Price Performance

NYSE:LOB opened at $43.23 on Tuesday. The company has a market cap of $2.00 billion, a P/E ratio of 15.22 and a beta of 1.87. The stock’s fifty day moving average price is $41.30 and its two-hundred day moving average price is $38.33. Live Oak Bancshares, Inc. has a 1 year low of $29.36 and a 1 year high of $44.53.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. The company 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%. On average, analysts expect that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

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.