Persistent Asset Partners Ltd Acquires New Shares in Live Oak Bancshares, Inc. $LOB

Persistent Asset Partners Ltd bought a new stake in 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 (SEC). The fund bought 23,473 shares of the bank’s stock, valued at approximately $699,000. Persistent Asset Partners Ltd owned approximately 0.05% of Live Oak Bancshares at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Live Oak Bancshares during the 1st quarter valued at about $68,000. CWM LLC grew its stake in Live Oak Bancshares by 1,547.3% in the 2nd quarter. CWM LLC now owns 3,904 shares of the bank’s stock valued at $116,000 after buying an additional 3,667 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Live Oak Bancshares by 37.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,481 shares of the bank’s stock worth $223,000 after purchasing an additional 2,040 shares during the period. PDT Partners LLC acquired a new position in shares of Live Oak Bancshares during the first quarter worth approximately $225,000. Finally, SG Americas Securities LLC raised its stake in Live Oak Bancshares by 15.0% during the 2nd quarter. SG Americas Securities LLC now owns 8,509 shares of the bank’s stock valued at $254,000 after purchasing an additional 1,110 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Live Oak Bancshares Price Performance

Live Oak Bancshares stock opened at $31.16 on Friday. The business has a 50 day simple moving average of $34.49 and a 200 day simple moving average of $32.23. The company has a market capitalization of $1.42 billion, a PE ratio of 21.49 and a beta of 1.98. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.16.

Live Oak Bancshares Announces Dividend

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

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.