AlphaCrest Capital Management LLC raised its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB – Get Rating) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,969 shares of the bank’s stock after purchasing an additional 1,624 shares during the quarter. AlphaCrest Capital Management LLC owned about 0.05% of Live Oak Bancshares worth $733,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in LOB. Allspring Global Investments Holdings LLC lifted its holdings in shares of Live Oak Bancshares by 49.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,530 shares of the bank’s stock worth $46,000 after purchasing an additional 508 shares during the period. Guardian Wealth Advisors LLC acquired a new stake in Live Oak Bancshares during the 3rd quarter valued at approximately $46,000. Whittier Trust Co. acquired a new stake in Live Oak Bancshares during the 3rd quarter valued at approximately $50,000. Great West Life Assurance Co. Can purchased a new stake in shares of Live Oak Bancshares in the 3rd quarter valued at $55,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Live Oak Bancshares in the third quarter worth $61,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.
Insiders Place Their Bets
In related news, Director William Henderson Cameron purchased 1,000 shares of Live Oak Bancshares stock in a transaction that occurred on Thursday, December 15th. The stock was purchased at an average price of $30.45 per share, for a total transaction of $30,450.00. Following the transaction, the director now directly owns 167,217 shares in the company, valued at $5,091,757.65. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 25.70% of the stock is currently owned by company insiders.
Live Oak Bancshares Stock Down 2.5 %
Live Oak Bancshares (NASDAQ:LOB – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The bank reported $0.04 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.36). The business had revenue of $104.97 million during the quarter, compared to analyst estimates of $111.56 million. Live Oak Bancshares had a net margin of 25.82% and a return on equity of 22.60%. Sell-side analysts expect that Live Oak Bancshares, Inc. will post 2.06 earnings per share for the current fiscal year.
Live Oak Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Tuesday, February 28th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, February 27th. Live Oak Bancshares’s payout ratio is presently 3.06%.
Wall Street Analysts Forecast Growth
Several research firms have commented on LOB. JPMorgan Chase & Co. lowered shares of Live Oak Bancshares from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $34.00 to $30.00 in a report on Tuesday, December 13th. StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 22nd. Raymond James assumed coverage on Live Oak Bancshares in a report on Monday, February 27th. They issued a “market perform” rating for the company. Finally, Truist Financial dropped their price objective on shares of Live Oak Bancshares from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Live Oak Bancshares presently has a consensus rating of “Hold” and a consensus target price of $39.25.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company for Live Oak Banking Company, which operates as a national online platform for small business lending. It operates through the following segments: Banking, Fintech, and Other. The Banking segment provides financing services to small businesses nationwide in targeted industries and deposit-related services to small businesses, consumers, and other customers nationwide.
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