31,021 Shares in Live Oak Bancshares, Inc. $LOB Purchased by PDT Partners LLC

PDT Partners LLC acquired a new position in shares of Live Oak Bancshares, Inc. (NYSE:LOB) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 31,021 shares of the company’s stock, valued at approximately $1,267,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mendon Capital Advisors Corp lifted its holdings in shares of Live Oak Bancshares by 0.5% during the 4th quarter. Mendon Capital Advisors Corp now owns 50,000 shares of the company’s stock worth $1,718,000 after acquiring an additional 250 shares during the period. ProShare Advisors LLC raised its position in Live Oak Bancshares by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 6,467 shares of the company’s stock valued at $222,000 after purchasing an additional 418 shares in the last quarter. Federated Hermes Inc. raised its position in Live Oak Bancshares by 1.2% during the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $1,323,000 after purchasing an additional 468 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Live Oak Bancshares by 6.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,889 shares of the company’s stock worth $271,000 after purchasing an additional 506 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Live Oak Bancshares by 0.9% in the 3rd quarter. Swiss National Bank now owns 70,700 shares of the company’s stock valued at $2,490,000 after purchasing an additional 600 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William L. Williams III sold 8,400 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $43.08, for a total value of $361,872.00. Following the sale, the director directly owned 1,114,126 shares in the company, valued at $47,996,548.08. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 that occurred on Tuesday, July 28th. The shares were sold at an average price of $42.08, for a total transaction of $256,688.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 36,454 shares of company stock valued at $1,526,341. Company insiders own 22.40% of the company’s stock.

Analyst Upgrades and Downgrades

LOB has been the subject of a number of research analyst reports. Weiss Ratings raised Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Zacks Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald boosted their target price on Live Oak Bancshares from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. TD Cowen increased their target price on shares of Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $46.40.

Live Oak Bancshares Stock Performance

Shares of NYSE LOB opened at $39.94 on Thursday. The firm has a 50 day moving average price of $41.62 and a two-hundred day moving average price of $38.36. The stock has a market cap of $1.85 billion, a P/E ratio of 14.06 and a beta of 1.87. Live Oak Bancshares, Inc. has a 52-week low of $29.36 and a 52-week high of $44.53.

Live Oak Bancshares (NYSE:LOB) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The business 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%. Analysts predict that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Live Oak Bancshares’s dividend payout ratio is presently 4.23%.

Live Oak Bancshares Profile

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.