Live Oak Bancshares Inc (LOB) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Jun 2, 2016.
Live Oak Bancshares Inc opened for trading at $16.25 and hit $16.79 on the upside on Wednesday, eventually ending the session at $16.5, with a gain of 2.23% or 0.36 points. The heightened volatility saw the trading volume jump to 66,641 shares. Company has a market cap of $564 M.
In a different news, on Feb 3, 2016, Don Jackson (director) purchased 16,787 shares at $13.49 per share price. According to the SEC, on Dec 15, 2015, Miltom Emmett Petty (director) purchased 2,000 shares at $13.01 per share price. On Dec 14, 2015, Steve Smits (Chief Credit Officer) sold 1,000 shares at $13.19 per share price, according to the Form-4 filing with the securities and exchange commission.
Live Oak Bancshares Inc. is a bank holding company. Through its subsidiary Live Oak Banking Company (the Bank) it is engaged in providing lending services to small businesses across the United States in targeted industries. The Bank offers a national online platform for small business lending. The Bank offers a range of short and medium-term commercial and construction loans partially guaranteed by the United States Small Business Administration (SBA) to small businesses and professionals. The Bank’s investment securities portfolio includes available-for-sale securities. The Bank’s available-for-sale securities include agency direct obligations agency mortgage-backed securities and mutual funds. The Bank’s sources of funds include deposits. In addition to Live Oak Banking Company Live Oak Bancshares Inc.’s subsidiaries include Government Loan Solutions Inc. 504 Fund Advisors LLC and Independence Aviation LLC.