18,500 Shares in Live Oak Bancshares, Inc. (LOB) Acquired by Gratus Capital LLC
Gratus Capital LLC acquired a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 18,500 shares of the bank’s stock, valued at approximately $448,000. Gratus Capital LLC owned 0.05% of Live Oak Bancshares as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. California Public Employees Retirement System purchased a new stake in shares of Live Oak Bancshares during the first quarter valued at $223,000. Teachers Advisors LLC boosted its stake in shares of Live Oak Bancshares by 12.4% in the first quarter. Teachers Advisors LLC now owns 38,055 shares of the bank’s stock valued at $824,000 after buying an additional 4,192 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Live Oak Bancshares by 7.0% in the first quarter. Wellington Management Group LLP now owns 1,273,646 shares of the bank’s stock valued at $27,574,000 after buying an additional 83,260 shares during the last quarter. Second Curve Capital LLC purchased a new stake in shares of Live Oak Bancshares during the first quarter valued at $649,000. Finally, Spark Investment Management LLC purchased a new stake in shares of Live Oak Bancshares during the first quarter valued at $253,000. 37.84% of the stock is owned by institutional investors.
Shares of Live Oak Bancshares, Inc. (NASDAQ LOB) opened at 22.65 on Thursday. The stock has a market capitalization of $785.14 million, a PE ratio of 32.73 and a beta of -0.15. The stock has a 50 day moving average of $24.02 and a 200 day moving average of $23.52. Live Oak Bancshares, Inc. has a 52-week low of $13.59 and a 52-week high of $26.05.
Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The business had revenue of $45.06 million during the quarter, compared to analysts’ expectations of $45.92 million. Live Oak Bancshares had a return on equity of 11.50% and a net margin of 13.71%. Analysts forecast that Live Oak Bancshares, Inc. will post $0.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, August 17th. This is a boost from Live Oak Bancshares’s previous quarterly dividend of $0.02. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 17.14%.
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Several equities research analysts have weighed in on LOB shares. Zacks Investment Research raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Friday, May 12th. TheStreet raised shares of Live Oak Bancshares from a “c” rating to a “b-” rating in a research report on Monday, July 24th. Finally, BidaskClub cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd.
In related news, Director Diane Beth Glossman acquired 2,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $23.07 per share, for a total transaction of $46,140.00. Following the purchase, the director now owns 26,892 shares of the company’s stock, valued at approximately $620,398.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 30.10% of the company’s stock.
About Live Oak Bancshares
Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).
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