Brasada Capital Management LP purchased a new position in shares of Live Oak Bancshares Inc (NASDAQ:LOB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,794 shares of the bank’s stock, valued at approximately $495,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Citigroup Inc. grew its holdings in Live Oak Bancshares by 45.1% during the 1st quarter. Citigroup Inc. now owns 5,550 shares of the bank’s stock worth $154,000 after acquiring an additional 1,724 shares during the period. Element Capital Management LLC bought a new stake in Live Oak Bancshares during the 1st quarter worth about $202,000. UBS Group AG raised its holdings in shares of Live Oak Bancshares by 440.3% in the 1st quarter. UBS Group AG now owns 7,315 shares of the bank’s stock valued at $204,000 after purchasing an additional 5,961 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Live Oak Bancshares in the 4th quarter valued at about $222,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Live Oak Bancshares in the 4th quarter valued at about $248,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.
In other news, insider Thomas A. Hill sold 8,000 shares of the stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $29.55, for a total value of $236,400.00. Following the transaction, the insider now owns 7,824 shares in the company, valued at approximately $231,199.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO S. Brett Caines sold 7,073 shares of the firm’s stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $28.28, for a total transaction of $200,024.44. Following the sale, the chief financial officer now owns 325,948 shares in the company, valued at approximately $9,217,809.44. The disclosure for this sale can be found here. Insiders sold a total of 53,056 shares of company stock worth $1,526,068 over the last ninety days. Insiders own 25.70% of the company’s stock.
Live Oak Bancshares opened at $30.65 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.90 and a quick ratio of 0.65. Live Oak Bancshares Inc has a twelve month low of $20.75 and a twelve month high of $31.65. The stock has a market capitalization of $1.22 billion, a PE ratio of 24.52 and a beta of 0.18.
Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, April 25th. The bank reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.09. Live Oak Bancshares had a net margin of 36.10% and a return on equity of 14.29%. The firm had revenue of $55.23 million during the quarter, compared to analyst estimates of $49.66 million. equities research analysts anticipate that Live Oak Bancshares Inc will post 1.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Stockholders of record on Tuesday, May 29th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, May 25th. Live Oak Bancshares’s dividend payout ratio is presently 9.60%.
Several brokerages recently commented on LOB. Zacks Investment Research downgraded shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday, May 30th. Finally, Sandler O’Neill restated a “buy” rating and issued a $31.00 price target on shares of Live Oak Bancshares in a report on Wednesday, March 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Live Oak Bancshares presently has a consensus rating of “Buy” and an average price target of $29.25.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc operates as the bank holding company for the Live Oak Banking Company that provides various commercial banking products and services to individuals and businesses in North Carolina. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, saving, and time deposits.
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