Rafferty Asset Management LLC increased its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 48.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,933 shares of the bank’s stock after buying an additional 19,444 shares during the quarter. Rafferty Asset Management LLC owned 0.14% of Live Oak Bancshares worth $3,536,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Wolverine Asset Management LLC bought a new position in shares of Live Oak Bancshares during the first quarter worth about $33,000. Lazard Asset Management LLC bought a new position in Live Oak Bancshares in the first quarter valued at approximately $37,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Live Oak Bancshares in the first quarter valued at approximately $44,000. Baldwin Brothers Inc. MA grew its stake in Live Oak Bancshares by 50.0% in the second quarter. Baldwin Brothers Inc. MA now owns 750 shares of the bank’s stock valued at $44,000 after purchasing an additional 250 shares in the last quarter. Finally, Gables Capital Management Inc. grew its stake in Live Oak Bancshares by 60.0% in the first quarter. Gables Capital Management Inc. now owns 800 shares of the bank’s stock valued at $55,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 56.69% of the company’s stock.
Separately, Zacks Investment Research upgraded Live Oak Bancshares from a “sell” rating to a “hold” rating and set a $68.00 price target for the company in a research note on Tuesday, July 27th.
Live Oak Bancshares (NASDAQ:LOB) last issued its earnings results on Tuesday, July 20th. The bank reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.84. Live Oak Bancshares had a return on equity of 27.89% and a net margin of 33.72%. The company had revenue of $141.57 million during the quarter, compared to the consensus estimate of $91.19 million. On average, equities analysts predict that Live Oak Bancshares, Inc. will post 3.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 21st. Stockholders of record on Tuesday, September 7th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, September 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. Live Oak Bancshares’s dividend payout ratio is currently 8.28%.
In related news, President Neil Lawrence Underwood sold 16,521 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $60.15, for a total transaction of $993,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John W. Sutherland sold 15,125 shares of Live Oak Bancshares stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $61.54, for a total value of $930,792.50. Following the sale, the chief accounting officer now directly owns 64,744 shares of the company’s stock, valued at $3,984,345.76. The disclosure for this sale can be found here. Insiders have sold a total of 90,125 shares of company stock valued at $5,497,590 over the last quarter. 26.40% of the stock is currently owned by corporate insiders.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc is a bank holding company for Live Oak Banking Company, which operates as a national online platform for small business lending. It operates through the following segments: Banking, Fintech, and Other. The Banking segment provides financing services to small businesses nationwide in targeted industries and deposit-related services to small businesses, consumers, and other customers nationwide.
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