Norges Bank Acquires New Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Norges Bank acquired a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOBFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 164,256 shares of the bank’s stock, valued at approximately $7,474,000. Norges Bank owned 0.37% of Live Oak Bancshares at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Live Oak Bancshares by 1,127.6% in the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock worth $97,000 after buying an additional 1,962 shares during the last quarter. Toth Financial Advisory Corp grew its position in Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after buying an additional 775 shares during the last quarter. Arbor Investment Advisors LLC acquired a new position in Live Oak Bancshares in the fourth quarter worth approximately $211,000. Apollon Wealth Management LLC acquired a new position in Live Oak Bancshares in the 4th quarter worth approximately $216,000. Finally, Quantbot Technologies LP boosted its stake in Live Oak Bancshares by 45.8% in the 3rd quarter. Quantbot Technologies LP now owns 7,637 shares of the bank’s stock worth $221,000 after purchasing an additional 2,398 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

Insider Activity

In related news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $35.97, for a total value of $93,522.00. Following the transaction, the director now owns 5,870 shares in the company, valued at approximately $211,143.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the transaction, the insider now owns 43,864 shares in the company, valued at approximately $1,748,857.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total transaction of $93,522.00. Following the completion of the transaction, the director now owns 5,870 shares in the company, valued at approximately $211,143.90. The disclosure for this sale can be found here. 23.90% of the stock is owned by insiders.

Live Oak Bancshares Stock Up 1.2 %

Shares of NASDAQ:LOB opened at $32.70 on Friday. The firm has a fifty day moving average of $36.37 and a two-hundred day moving average of $38.42. The firm has a market capitalization of $1.47 billion, a P/E ratio of 16.43 and a beta of 1.62. Live Oak Bancshares, Inc. has a 12-month low of $23.98 and a 12-month high of $47.22.

Live Oak Bancshares (NASDAQ:LOBGet Free Report) last issued its earnings results on Wednesday, April 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.12). The company had revenue of $116.21 million for the quarter, compared to analyst estimates of $118.89 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.25%. Equities research analysts expect that Live Oak Bancshares, Inc. will post 1.99 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.37%. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Analyst Ratings Changes

LOB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 price objective (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday, April 26th. Truist Financial decreased their price objective on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.00.

View Our Latest Stock Report on LOB

Live Oak Bancshares Company Profile

(Free Report)

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.

See Also

Institutional Ownership by Quarter for Live Oak Bancshares (NASDAQ:LOB)

Receive News & Ratings for Live Oak Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Oak Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.