GSA Capital Partners LLP Takes Position in Live Oak Bancshares, Inc. $LOB

GSA Capital Partners LLP purchased a new stake in Live Oak Bancshares, Inc. (NYSE:LOB) in the 2nd quarter, HoldingsChannel reports. The firm purchased 28,680 shares of the company’s stock, valued at approximately $1,171,000.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Live Oak Bancshares by 157.4% during the 4th quarter. Larson Financial Group LLC now owns 1,480 shares of the company’s stock worth $51,000 after buying an additional 905 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Live Oak Bancshares in the fourth quarter valued at about $55,000. Blue Trust Inc. grew its stake in 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 acquiring an additional 1,847 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings 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 worth $95,000 after purchasing an additional 1,850 shares during the last quarter. Finally, CWM LLC lifted its position in Live Oak Bancshares by 15.0% during the fourth quarter. CWM LLC now owns 4,926 shares of the company’s stock worth $169,000 after buying an additional 642 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Price Performance

Shares of NYSE:LOB opened at $43.23 on Tuesday. Live Oak Bancshares, Inc. has a 12 month low of $29.36 and a 12 month high of $44.53. The firm has a market capitalization of $2.00 billion, a P/E ratio of 15.22 and a beta of 1.87. The company’s fifty day moving average price is $41.30 and its 200 day moving average price is $38.33.

Live Oak Bancshares (NYSE:LOB) last announced its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The firm 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, sell-side analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 EPS for the current year.

Insider Buying and Selling

In other Live Oak Bancshares news, Director William L. Williams III sold 8,400 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $41.61, for a total transaction of $349,524.00. Following the completion of the transaction, the director owned 1,122,526 shares in the company, valued at approximately $46,708,306.86. This represents a 0.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Michael Moroz sold 6,100 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $42.08, for a total transaction of $256,688.00. Following the transaction, the insider directly owned 12,110 shares of the company’s stock, valued at $509,588.80. This represents a 33.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,454 shares of company stock valued at $1,526,341 over the last quarter. 22.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on LOB. Piper Sandler boosted their target price on shares of Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods increased their price target on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Cantor Fitzgerald upped their target price on shares of Live Oak Bancshares from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Zacks Research raised shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, TD Cowen upped 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.20.

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.