Rafferty Asset Management LLC Purchases 11,740 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Rafferty Asset Management LLC boosted its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,340 shares of the bank’s stock after acquiring an additional 11,740 shares during the period. Rafferty Asset Management LLC owned 0.10% of Live Oak Bancshares worth $1,793,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LOB. Capital International Investors lifted its stake in Live Oak Bancshares by 75.8% in the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock valued at $80,749,000 after buying an additional 880,530 shares during the period. Raymond James Financial Inc. acquired a new position in Live Oak Bancshares in the fourth quarter valued at about $5,277,000. AmeriServ Wealth Advisors acquired a new position in Live Oak Bancshares in the fourth quarter valued at about $4,443,000. Norges Bank acquired a new position in Live Oak Bancshares in the fourth quarter valued at about $4,056,000. Finally, Southernsun Asset Management LLC lifted its stake in Live Oak Bancshares by 10.3% in the fourth quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank’s stock valued at $31,510,000 after buying an additional 74,193 shares during the period. Institutional investors own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

LOB has been the topic of several analyst reports. StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 28th. Keefe, Bruyette & Woods dropped their price target on Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research report on Friday, April 25th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.25.

Insider Transactions at Live Oak Bancshares

In other news, Director William Henderson Cameron bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $25.92 per share, with a total value of $129,600.00. Following the transaction, the director now owns 11,904 shares in the company, valued at $308,551.68. This represents a 72.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.40% of the stock is currently owned by insiders.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $28.03 on Wednesday. The firm has a market cap of $1.28 billion, a P/E ratio of 19.33 and a beta of 1.84. The stock’s 50-day moving average is $26.27 and its 200-day moving average is $34.79. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57.

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.