CenterBook Partners LP Decreases Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

CenterBook Partners LP lowered its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOBFree Report) by 67.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,711 shares of the bank’s stock after selling 93,255 shares during the period. CenterBook Partners LP owned approximately 0.10% of Live Oak Bancshares worth $2,034,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LOB. Trust Co of the South purchased a new position in Live Oak Bancshares in the fourth quarter valued at about $15,042,000. Norges Bank purchased a new position in shares of Live Oak Bancshares during the 4th quarter valued at approximately $7,474,000. Homestead Advisers Corp grew its position in shares of Live Oak Bancshares by 103.6% during the fourth quarter. Homestead Advisers Corp now owns 123,000 shares of the bank’s stock worth $5,596,000 after buying an additional 62,600 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Live Oak Bancshares by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,327,754 shares of the bank’s stock worth $60,415,000 after buying an additional 61,029 shares during the last quarter. Finally, Trillium Asset Management LLC raised its holdings in Live Oak Bancshares by 91.4% in the fourth quarter. Trillium Asset Management LLC now owns 110,168 shares of the bank’s stock valued at $5,013,000 after acquiring an additional 52,608 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB traded down $0.19 during midday trading on Friday, hitting $32.44. 149,926 shares of the company’s stock were exchanged, compared to its average volume of 160,171. The stock’s 50 day moving average price is $36.19 and its 200-day moving average price is $38.38. The firm has a market cap of $1.46 billion, a P/E ratio of 16.43 and a beta of 1.62. Live Oak Bancshares, Inc. has a twelve month low of $23.98 and a twelve month high of $47.22.

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

Live Oak Bancshares Announces Dividend

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

Insider Buying and Selling at Live Oak Bancshares

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial reduced their target price on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price objective (down from $45.00) on shares of Live Oak Bancshares in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.00.

Check Out Our Latest Research 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.

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

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