Leading institutional investor Sequoia Financial Advisors LLC recently made a major move by taking a new position in Live Oak Bancshares, Inc. (NASDAQ:LOB). Sequoia Financial Advisors LLC purchased 51,010 shares of the bank in the first quarter, according to the latest filings with the Securities and Exchange Commission (SEC). This strategic move demonstrates Sequoia Financial Advisors LLC’s confidence in Live Oak Bancshares and its growth potential.
The total value of the shares acquired will be approximately $1,243,000. While that may seem a relatively small percentage of Live Oak Bankshares’ overall market capitalization, which currently stands at $1.2 billion, Sequoia Financial Advisors LLC currently owns roughly 0.12% of the company’s stock. It is important to note that This underscores their belief in the bank’s long-term prospects and is consistent with their investment strategy.
Interestingly, Sequoia Financial Advisors LLC isn’t the only active investor in Live Oak Bancshares. His recent SEC filings show that director William Henderson Cameron also acquired shares in the company. On June 12, Cameron bought 4,000 shares at an average price of $24.37 per share, bringing the total deal value to $97,480.
The purchase adds to his existing equity holdings in the company, bringing his total direct ownership to 171,217 shares, valued at approximately $4,172,558.29. These transactions further underline the insider’s confidence and signify his endorsement of Live Oak Bancshares’ direction under current management.
Director David G. Lucht also joined the trend by acquiring 5,000 shares on May 12 at an average cost per share of $20.02. The total investment he makes is $100,100. After this acquisition, Lucht now holds his 20,739 shares worth approximately $4156,950.78. These acquisitions by prominent directors underscore their belief in Live Oak Bancshares and its trajectory.
Recent acquisitions by these respected investors shed light on LiveOak BankShares’ current stock performance. On July 11, 2023, LOB opened at $27.18 with a market cap of $1.2 billion. The company has been volatile in price over the past year, with a low of $17.31 and a high of $43.72.
Live Oak Bancshares currently boasts a PER of 8.46 and a beta of 1.50, indicating the bank’s growth potential given the market volatility risks associated with its industry sector.
In conclusion, the recent acquisition of Sequoia Financial Advisors LLC has reaffirmed Live Oak Bancshares’ position as an attractive investment opportunity in the banking industry. Insider trading by influential directors further contributes to confidence in the company’s future prospects.
However, it is important that potential investors conduct thorough research before making investment decisions, taking into account market conditions and relevant financial metrics such as P/E and beta.
As with any investment activity, investing in publicly traded companies such as Live Oak Bancshares involves inherent risks. Therefore, in such an uncertain and complex financial environment, it is of utmost importance to seek professional advice to mitigate potential losses and maximize returns.
Live Oak Bank Shares Co., Ltd.
Updated: November 7, 2023
the current $27.37
Date: July 11, 2023
Live Oak Bancshares Recent Developments and Outlook
Live Oak Bancshares, Inc. (NASDAQ:LOB) recently saw a minor change in ownership, with multiple institutional investors and hedge funds changing their positions in the stock. Signaturefd LLC reportedly increased its stake in Live Oak Bancshares by 2.4% in the fourth quarter of last year, acquiring an additional 651 shares worth $853,000. Similarly, Rice Hall James & Associates LLC acquired new positions in bank stocks for approximately $6.9 million during the same period.
Another institutional investor, Strs Ohio, purchased shares in Live Oak Bancshares for approximately $196,000 during the fourth quarter. In addition, Motley Fool Asset Management LLC increased his stake in LiveOak Bank Shares by 27.1% during the same period. They purchased an additional 10,938 shares worth $1.5 million and now hold a significant stake in the company’s stock.
Smith Salley & Associates also increased its Live Oak Bancshares holdings by 11.7% in Q4 2022. They currently own about $260,000 worth of stock.
These findings suggest that institutional investors own a majority stake of approximately 63.33% in Live Oak Bancshares.
Research analysts have also weighed in on LOB stocks. Piper Sandler, for example, lowered its price target from $27 to $25 a share in April. Conversely, Trust Financial just last month raised its price target from $26 to $28 a share.
StockNews.com also provides insight by rating Live Oak Bancshares shares as Sell. Keefe, Brouillette & Woods lowered its price target to $27 per share from $33, calling it a “market performance.” JPMorgan Chase & Co., meanwhile, raised its price target to $32 a share.
Live Oak Bancshares currently has a Consensus Rating of Hold and an Average Price Target of $28 per share.
Recently, news has surfaced about an insider’s acquisition of Live Oak Bancshares shares. Director William Henderson Cameron purchased 4,000 shares in the transaction, which closed on June 12, at an average price per share of $24.37. This adds up to $97,480. After the acquisition, Cameron now owns 171,217 shares in the company, worth about $4.17 million.
Director David G. Lucht purchased 5,000 shares on May 12 at an average price of $20.02 per share, for a total transaction value of $100,100. Following the acquisition, Lucht will own approximately 20,739 shares valued at approximately $415,194.
The company’s first-quarter earnings report that ended April 26 showed that Live Oak Bank Shares posted earnings per share (EPS) of just $0.01, compared with expert estimates of $0.36, and analysts’ earnings. fell short of expectations. The bank reported a return on equity of 17.61% and a net profit margin of 19.52%. Additionally, earnings for the quarter were $101.6 million, instead of his expected $111.27 million.
Research analysts now expect LiveOak BankShares to post earnings per share of about $1.22 this fiscal year.
In addition, Live Oak Bancshares recently announced a quarterly dividend payment, distributed on June 21st to investors of record as shareholders as of June 7th. They received a dividend equivalent to $0.03 per share owned.
Summarizing recent events surrounding Live Oak Bancshares and its investors, the bank witnessed a notable shift in institutional holdings in the fourth quarter of last year. A research analyst provided mixed valuations for his LOB stock and provided an adjusted price target. An insider bought a large amount of stock. The bank reported lower-than-expected earnings in the first quarter of this year. And finally, on June 21, he paid a dividend of $0.03 per share to shareholders.
Investors and market watchers will look to Live Oak Bankshare in the coming months to gauge the potential impact of these events on the bank’s stock performance and financial outlook.