Rafferty Asset Management LLC Increases Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Rafferty Asset Management LLC raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOBFree Report) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,987 shares of the bank’s stock after purchasing an additional 5,620 shares during the period. Rafferty Asset Management LLC owned about 0.08% of Live Oak Bancshares worth $1,637,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LOB. Blue Trust Inc. grew its holdings 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 valued at $97,000 after purchasing an additional 1,962 shares during the period. Toth Financial Advisory Corp grew its holdings 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 valued at $136,000 after purchasing an additional 775 shares during the period. Arbor Investment Advisors LLC acquired a new stake in shares of Live Oak Bancshares in the fourth quarter worth approximately $211,000. Apollon Wealth Management LLC acquired a new stake in shares of Live Oak Bancshares in the fourth quarter worth approximately $216,000. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Live Oak Bancshares in the fourth quarter worth approximately $228,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Tonya Williams Bradford sold 2,600 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total transaction of $93,522.00. Following the transaction, the director now owns 5,870 shares of the company’s stock, valued at approximately $211,143.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 23.90% of the company’s stock.

Live Oak Bancshares Stock Down 2.3 %

Shares of NASDAQ:LOB opened at $31.68 on Tuesday. The business has a fifty day moving average of $35.83 and a two-hundred day moving average of $38.45. The stock has a market cap of $1.42 billion, a P/E ratio of 15.92 and a beta of 1.62. Live Oak Bancshares, Inc. has a 52-week low of $23.98 and a 52-week 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 the consensus estimate of $0.48 by ($0.12). The company had revenue of $116.21 million during the quarter, compared to analysts’ expectations of $118.89 million. Live Oak Bancshares had a net margin of 10.62% and a return on equity of 10.25%. On average, equities analysts anticipate that Live Oak Bancshares, Inc. will post 1.99 earnings per share for the current 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 paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Tuesday, June 4th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on Live Oak Bancshares

Live Oak Bancshares 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.

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

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