Emerald Mutual Fund Advisers Trust cut its stake in Live Oak Bancshares Inc. (NASDAQ:LOB) by 6.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 804,264 shares of the company’s stock after selling 52,330 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Live Oak Bancshares were worth $11,348,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1st Global Advisors Inc. purchased a new position in shares of Live Oak Bancshares during the second quarter valued at $142,000. State Street Corp boosted its position in shares of Live Oak Bancshares by 13.6% in the first quarter. State Street Corp now owns 50,880 shares of the company’s stock valued at $766,000 after buying an additional 6,086 shares in the last quarter. RMB Capital Management LLC boosted its position in shares of Live Oak Bancshares by 82.5% in the first quarter. RMB Capital Management LLC now owns 174,257 shares of the company’s stock valued at $2,614,000 after buying an additional 78,767 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Live Oak Bancshares by 1.5% in the second quarter. Carroll Financial Associates Inc. now owns 131,340 shares of the company’s stock valued at $1,853,000 after buying an additional 1,990 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its position in shares of Live Oak Bancshares by 0.6% in the second quarter. Franklin Street Advisors Inc. NC now owns 17,975 shares of the company’s stock valued at $254,000 after buying an additional 100 shares in the last quarter. 33.82% of the stock is owned by institutional investors.
Shares of Live Oak Bancshares Inc. (NASDAQ:LOB) traded up 2.45% during midday trading on Wednesday, hitting $14.65. The stock had a trading volume of 37,639 shares. The firm has a market capitalization of $501.12 million, a PE ratio of 37.37 and a beta of -0.53. Live Oak Bancshares Inc. has a one year low of $12.10 and a one year high of $19.50. The firm’s 50-day moving average price is $14.16 and its 200-day moving average price is $14.62.
Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Live Oak Bancshares had a net margin of 10.45% and a return on equity of 8.54%. On average, equities analysts predict that Live Oak Bancshares Inc. will post $0.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were paid a $0.02 dividend. This is a boost from Live Oak Bancshares’s previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, August 30th. Live Oak Bancshares’s dividend payout ratio (DPR) is 21.05%.
Several research analysts recently weighed in on LOB shares. Zacks Investment Research raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, September 28th. Keefe, Bruyette & Woods reduced their target price on Live Oak Bancshares from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, July 29th.
About Live Oak Bancshares
Live Oak Bancshares, Inc is the bank holding company for Live Oak Banking Company (the Bank). The Bank is a commercial bank and a national online platform for small business lending. The Company provides certain small businesses across the United States a means to access capital. The Company primarily originates loans partially guaranteed by the United States Small Business Administration (SBA) to small businesses and professionals.
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