BlackRock Amends LOB Stake to 9.2% as of Dec 31, 2023
Ticker: LOB-PA · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1462120
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock now owns 9.2% of Live Oak Bancshares, a slight change from prior filings.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 29, 2024, disclosing its ownership in Live Oak Bancshares, Inc. (LOB). As of December 31, 2023, BlackRock reported beneficial ownership of 4,028,846 shares of LOB's Common Stock, representing 9.2% of the company. This is an amendment (Amendment No. 3) to their previous filings, indicating a change in their holdings. This matters to investors because BlackRock is a major institutional investor, and changes in their stake can signal their confidence in LOB's future performance, potentially influencing other investors' decisions.
Why It Matters
A significant institutional investor like BlackRock adjusting its stake can influence market perception and potentially the stock price of Live Oak Bancshares, Inc. (LOB). This filing provides transparency into their current level of investment.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of institutional ownership and does not indicate any immediate financial risk to the company or its investors.
Analyst Insight
Investors should note BlackRock's continued significant, though slightly adjusted, stake in LOB, which suggests ongoing institutional confidence. However, this filing alone doesn't warrant immediate action; it's a data point for broader due diligence.
Key Numbers
- 4,028,846 — Shares Owned (Total shares of Live Oak Bancshares, Inc. Common Stock beneficially owned by BlackRock, Inc. as of December 31, 2023.)
- 9.2% — Ownership Percentage (The percentage of Live Oak Bancshares, Inc. Common Stock beneficially owned by BlackRock, Inc. as of December 31, 2023.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- Live Oak Bancshares, Inc. (company) — the issuer of the securities
- 4,028,846 (dollar_amount) — number of shares beneficially owned by BlackRock
- 9.2% (dollar_amount) — percentage of class beneficially owned by BlackRock
- December 31, 2023 (date) — date of the event requiring the filing
- January 29, 2024 (date) — date the SC 13G/A was filed
Forward-Looking Statements
- BlackRock will maintain a significant, but non-controlling, stake in Live Oak Bancshares, Inc. (BlackRock, Inc.) — high confidence, target: December 31, 2024
- The stock price of Live Oak Bancshares, Inc. will not experience significant volatility solely due to this routine filing. (Live Oak Bancshares, Inc.) — high confidence, target: February 29, 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person in this SC 13G/A filing is BlackRock, Inc., as stated under 'Names of reporting persons' on the cover page.
What is the name of the issuer whose securities are being reported on?
The name of the issuer is Live Oak Bancshares, Inc., as indicated under 'Name of Issuer' on the Schedule 13G form.
How many shares of Common Stock does BlackRock, Inc. beneficially own in Live Oak Bancshares, Inc. as of the event date?
As of December 31, 2023, BlackRock, Inc. beneficially owns 4,028,846 shares of Common Stock in Live Oak Bancshares, Inc., according to the filing's summary of beneficial ownership.
What percentage of the class of securities does BlackRock, Inc. beneficially own?
BlackRock, Inc. beneficially owns 9.2% of the class of securities, as detailed in the filing's summary of beneficial ownership.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified on the Schedule 13G form.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding Live Oak Bancshares, Inc. (LOB-PA).