Algert Global LLC Has $8.12 Million Stock Holdings in Live Oak Bancshares, Inc. $LOB

Algert Global LLC grew its position in shares of Live Oak Bancshares, Inc. (NYSE:LOB) by 37.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,466 shares of the company’s stock after buying an additional 62,946 shares during the period. Algert Global LLC owned approximately 0.50% of Live Oak Bancshares worth $8,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in Live Oak Bancshares by 60.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,364 shares of the company’s stock worth $49,000 after purchasing an additional 512 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Live Oak Bancshares during the 3rd quarter worth approximately $63,000. Tower Research Capital LLC TRC increased its holdings in shares of Live Oak Bancshares by 138.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock worth $95,000 after purchasing an additional 1,850 shares during the period. CWM LLC increased its holdings in shares of Live Oak Bancshares by 9.7% during the third quarter. CWM LLC now owns 4,284 shares of the company’s stock worth $151,000 after purchasing an additional 380 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Live Oak Bancshares by 111.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the company’s stock valued at $184,000 after buying an additional 3,248 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Stock Performance

NYSE LOB opened at $32.65 on Tuesday. The firm’s fifty day moving average price is $37.98 and its two-hundred day moving average price is $35.66. The stock has a market cap of $1.50 billion, a PE ratio of 14.71 and a beta of 1.97. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $42.89.

Live Oak Bancshares (NYSE:LOB) last announced its quarterly earnings results on Wednesday, January 21st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.39. Live Oak Bancshares had a return on equity of 9.71% and a net margin of 10.09%.The company had revenue of $161.86 million during the quarter.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Thursday, March 5th were given a $0.03 dividend. The ex-dividend date was Thursday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.4%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 5.41%.

Insider Transactions at Live Oak Bancshares

In other news, insider Courtney Spencer sold 9,700 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $39.01, for a total value of $378,397.00. Following the completion of the transaction, the insider owned 25,160 shares of the company’s stock, valued at $981,491.60. This represents a 27.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Walter J. Phifer sold 4,712 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $36.58, for a total transaction of $172,364.96. Following the completion of the transaction, the chief financial officer owned 10,103 shares of the company’s stock, valued at approximately $369,567.74. This trade represents a 31.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,412 shares of company stock valued at $660,862 over the last three months. Company insiders own 23.40% of the company’s stock.

Analyst Upgrades and Downgrades

LOB has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Oak Bancshares in a research note on Thursday, January 22nd. Zacks Research lowered Live Oak Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. TD Cowen dropped their price objective on Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Finally, Wall Street Zen upgraded Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Live Oak Bancshares presently has a consensus rating of “Hold” and a consensus target price of $44.20.

Live Oak Bancshares Company 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.