Quest Partners LLC Acquires 823 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Quest Partners LLC boosted its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 68.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,026 shares of the bank’s stock after buying an additional 823 shares during the quarter. Quest Partners LLC’s holdings in Live Oak Bancshares were worth $71,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOB. Toth Financial Advisory Corp raised its stake in shares of Live Oak Bancshares by 10.7% in the first quarter. Toth Financial Advisory Corp now owns 3,320 shares of the bank’s stock worth $138,000 after buying an additional 320 shares during the period. ProShare Advisors LLC raised its stake in Live Oak Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 6,048 shares of the bank’s stock worth $251,000 after acquiring an additional 476 shares during the period. Cetera Advisors LLC raised its stake in Live Oak Bancshares by 9.2% during the 1st quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock worth $245,000 after acquiring an additional 500 shares during the period. Riverview Trust Co purchased a new position in Live Oak Bancshares during the first quarter valued at approximately $28,000. Finally, Chatham Capital Group Inc. boosted its position in shares of Live Oak Bancshares by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 43,815 shares of the bank’s stock worth $1,536,000 after purchasing an additional 735 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LOB. JPMorgan Chase & Co. dropped their price objective on Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Truist Financial increased their price objective on shares of Live Oak Bancshares from $38.00 to $51.00 and gave the company a “buy” rating in a report on Monday, July 29th. Piper Sandler boosted their target price on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $47.00 target price (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.25.

Live Oak Bancshares Trading Up 2.8 %

Shares of LOB opened at $48.10 on Wednesday. The company’s fifty day simple moving average is $41.47 and its 200-day simple moving average is $38.09. The company has a market cap of $2.16 billion, a P/E ratio of 24.17 and a beta of 1.60. Live Oak Bancshares, Inc. has a twelve month low of $26.11 and a twelve month high of $48.53.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 24th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 10.93% and a net margin of 11.22%. The firm had revenue of $232.61 million for the quarter, compared to analysts’ expectations of $123.08 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Analysts predict that Live Oak Bancshares, Inc. will post 2.32 earnings per share for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Tuesday, September 3rd. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Insider Activity

In other Live Oak Bancshares news, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the sale, the chief accounting officer now directly owns 26,603 shares in the company, valued at approximately $1,143,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 23.90% of the company’s stock.

About Live Oak Bancshares

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.