Live Oak Bancshares Inc (NASDAQ:LOB) Shares Bought by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp raised its stake in Live Oak Bancshares Inc (NASDAQ:LOB) by 2.3% in the second quarter, HoldingsChannel reports. The fund owned 1,237,381 shares of the bank’s stock after purchasing an additional 28,149 shares during the period. Live Oak Bancshares accounts for approximately 3.3% of Mendon Capital Advisors Corp’s investment portfolio, making the stock its 10th largest holding. Mendon Capital Advisors Corp’s holdings in Live Oak Bancshares were worth $21,221,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in LOB. Swiss National Bank increased its position in shares of Live Oak Bancshares by 2.2% in the second quarter. Swiss National Bank now owns 46,300 shares of the bank’s stock valued at $794,000 after buying an additional 1,000 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Live Oak Bancshares by 0.6% during the second quarter. Commonwealth Equity Services LLC now owns 166,284 shares of the bank’s stock worth $2,851,000 after purchasing an additional 1,001 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Live Oak Bancshares by 8.3% during the second quarter. Parametric Portfolio Associates LLC now owns 21,707 shares of the bank’s stock worth $372,000 after purchasing an additional 1,666 shares in the last quarter. Bank of Montreal Can increased its position in shares of Live Oak Bancshares by 367.1% during the second quarter. Bank of Montreal Can now owns 2,681 shares of the bank’s stock worth $46,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Whitener Capital Management Inc. increased its position in shares of Live Oak Bancshares by 4.3% during the second quarter. Whitener Capital Management Inc. now owns 70,685 shares of the bank’s stock worth $1,212,000 after purchasing an additional 2,940 shares in the last quarter. 43.16% of the stock is owned by institutional investors.

Several brokerages recently commented on LOB. BidaskClub cut Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Zacks Investment Research upgraded Live Oak Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research report on Wednesday, July 31st. ValuEngine upgraded Live Oak Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, TheStreet cut Live Oak Bancshares from a “b” rating to a “c+” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Live Oak Bancshares presently has an average rating of “Buy” and a consensus target price of $18.67.

NASDAQ LOB traded up $0.24 on Friday, reaching $19.42. 6,184 shares of the company were exchanged, compared to its average volume of 101,396. The business’s fifty day moving average price is $18.31 and its 200 day moving average price is $16.73. The stock has a market capitalization of $753.16 million, a P/E ratio of 14.70 and a beta of 1.07. Live Oak Bancshares Inc has a fifty-two week low of $13.09 and a fifty-two week high of $29.40.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. The company had revenue of $48.64 million for the quarter, compared to analyst estimates of $48.56 million. Live Oak Bancshares had a return on equity of 7.11% and a net margin of 12.24%. Research analysts anticipate that Live Oak Bancshares Inc will post 0.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, September 9th. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 9.09%.

Live Oak Bancshares Profile

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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Institutional Ownership by Quarter for Live Oak Bancshares (NASDAQ:LOB)

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