Palogic Value Management L.P. Purchases New Stake in Live Oak Bancshares, Inc. $LOB

Palogic Value Management L.P. purchased a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,500 shares of the bank’s stock, valued at approximately $372,000.

Several other hedge funds have also bought and sold shares of the business. Pinnacle Associates Ltd. grew its position in Live Oak Bancshares by 25.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 27,059 shares of the bank’s stock valued at $806,000 after purchasing an additional 5,575 shares during the period. Motley Fool Wealth Management LLC grew its position in Live Oak Bancshares by 38.9% in the 2nd quarter. Motley Fool Wealth Management LLC now owns 366,608 shares of the bank’s stock valued at $10,925,000 after purchasing an additional 102,749 shares during the period. Motley Fool Asset Management LLC grew its position in Live Oak Bancshares by 16.3% in the 2nd quarter. Motley Fool Asset Management LLC now owns 101,910 shares of the bank’s stock valued at $3,037,000 after purchasing an additional 14,270 shares during the period. Y Intercept Hong Kong Ltd grew its position in Live Oak Bancshares by 100.1% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,148 shares of the bank’s stock valued at $1,018,000 after purchasing an additional 17,082 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Live Oak Bancshares by 24.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 181,269 shares of the bank’s stock valued at $5,402,000 after purchasing an additional 36,152 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LOB. National Bankshares set a $50.00 price target on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. Piper Sandler reduced their price target on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Keefe, Bruyette & Woods raised shares of Live Oak Bancshares from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $37.00 to $43.00 in a report on Tuesday, August 19th. Cantor Fitzgerald assumed coverage on shares of Live Oak Bancshares in a report on Wednesday, September 10th. They set a “neutral” rating and a $42.00 price objective on the stock. Finally, Cowen assumed coverage on shares of Live Oak Bancshares in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.50.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $31.15 on Friday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 21.48 and a beta of 1.81. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.17. The business’s fifty day moving average is $35.80 and its 200-day moving average is $31.78.

Live Oak Bancshares Announces Dividend

The firm also recently announced a sep 25 dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.03 per share. This represents a dividend yield of 32.0%. The ex-dividend date was Tuesday, September 2nd. Live Oak Bancshares’s payout ratio is presently 8.05%.

Live Oak Bancshares Profile

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.