Whitener Capital Management Inc. raised its holdings in Live Oak Bancshares Inc (NASDAQ:LOB) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,685 shares of the bank’s stock after acquiring an additional 2,940 shares during the period. Whitener Capital Management Inc. owned approximately 0.18% of Live Oak Bancshares worth $1,212,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in LOB. BNP Paribas Arbitrage SA increased its holdings in shares of Live Oak Bancshares by 58,766.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,298 shares of the bank’s stock worth $77,000 after buying an additional 5,289 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Live Oak Bancshares by 290.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,503 shares of the bank’s stock worth $126,000 after purchasing an additional 6,327 shares during the period. Aperio Group LLC purchased a new position in shares of Live Oak Bancshares during the 2nd quarter worth approximately $156,000. Group One Trading L.P. purchased a new position in shares of Live Oak Bancshares during the 1st quarter worth approximately $200,000. Finally, Principal Financial Group Inc. boosted its position in shares of Live Oak Bancshares by 72.4% during the 4th quarter. Principal Financial Group Inc. now owns 14,609 shares of the bank’s stock worth $216,000 after purchasing an additional 6,133 shares during the period. Institutional investors own 45.27% of the company’s stock.
A number of research firms recently weighed in on LOB. BidaskClub cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Zacks Investment Research raised shares of Live Oak Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, July 31st. ValuEngine raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, TheStreet raised shares of Live Oak Bancshares from a “c+” rating to a “b” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $18.67.
LOB stock traded up $0.48 during midday trading on Friday, hitting $18.10. The company’s stock had a trading volume of 115,900 shares, compared to its average volume of 188,847. Live Oak Bancshares Inc has a 52-week low of $13.09 and a 52-week high of $30.85. The firm has a market capitalization of $722.18 million, a P/E ratio of 20.87 and a beta of 1.05. The firm has a 50-day simple moving average of $17.75 and a 200-day simple moving average of $16.46.
Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. Live Oak Bancshares had a net margin of 12.24% and a return on equity of 7.11%. The company had revenue of $48.64 million during the quarter, compared to analysts’ expectations of $48.56 million. On average, research analysts expect that Live Oak Bancshares Inc will post 0.52 earnings per share for the current year.
About Live Oak Bancshares
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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