UBS Asset Management Americas Inc. acquired a new position in shares of Live Oak Bancshares Inc (NASDAQ:LOB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,834 shares of the bank’s stock, valued at approximately $443,000.
Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of Live Oak Bancshares by 121.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,496 shares of the bank’s stock valued at $43,000 after buying an additional 1,368 shares during the last quarter. Bank of Montreal Can grew its position in shares of Live Oak Bancshares by 367.1% in the 2nd quarter. Bank of Montreal Can now owns 2,681 shares of the bank’s stock valued at $46,000 after buying an additional 2,107 shares during the last quarter. Aperio Group LLC bought a new stake in shares of Live Oak Bancshares in the 2nd quarter valued at about $156,000. A.R.T. Advisors LLC bought a new stake in shares of Live Oak Bancshares in the 2nd quarter valued at about $276,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of Live Oak Bancshares by 8.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 21,707 shares of the bank’s stock valued at $372,000 after buying an additional 1,666 shares during the last quarter. Institutional investors and hedge funds own 43.16% of the company’s stock.
A number of research firms have commented on LOB. TheStreet lowered Live Oak Bancshares from a “b” rating to a “c+” rating in a research report on Friday, August 16th. BidaskClub upgraded Live Oak Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday. ValuEngine raised Live Oak Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded Live Oak Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Live Oak Bancshares presently has a consensus rating of “Hold” and an average price target of $18.67.
Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $48.64 million for the quarter, compared to the consensus estimate of $48.56 million. Live Oak Bancshares had a return on equity of 7.11% and a net margin of 12.24%. As a group, sell-side analysts anticipate that Live Oak Bancshares Inc will post 0.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, September 9th. Live Oak Bancshares’s dividend payout ratio is 9.09%.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, savings, and time deposits.
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