CenterBook Partners LP Acquires 182,851 Shares of Live Oak Bancshares, Inc. $LOB

CenterBook Partners LP lifted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 105.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 356,416 shares of the bank’s stock after acquiring an additional 182,851 shares during the period. CenterBook Partners LP owned approximately 0.78% of Live Oak Bancshares worth $10,621,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Millennium Management LLC grew its position in shares of Live Oak Bancshares by 655.6% during the 1st quarter. Millennium Management LLC now owns 687,885 shares of the bank’s stock worth $18,339,000 after purchasing an additional 596,841 shares in the last quarter. Nuveen LLC bought a new position in Live Oak Bancshares during the 1st quarter worth $8,116,000. Citigroup Inc. raised its holdings in Live Oak Bancshares by 428.2% in the 1st quarter. Citigroup Inc. now owns 295,250 shares of the bank’s stock valued at $7,871,000 after acquiring an additional 239,356 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Live Oak Bancshares by 1,263.2% during the 1st quarter. Jane Street Group LLC now owns 201,816 shares of the bank’s stock valued at $5,380,000 after acquiring an additional 187,011 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Live Oak Bancshares during the 1st quarter worth $3,520,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Insiders Place Their Bets

In other Live Oak Bancshares news, General Counsel Gregory W. Seward sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $30.20, for a total value of $36,240.00. Following the completion of the transaction, the general counsel owned 106,126 shares of the company’s stock, valued at $3,205,005.20. This represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on LOB. Piper Sandler dropped their price target on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. National Bankshares set a $50.00 target price on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. Keefe, Bruyette & Woods upgraded shares of Live Oak Bancshares from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $37.00 to $43.00 in a research report on Tuesday, August 19th. Cowen initiated coverage on Live Oak Bancshares in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Finally, Cantor Fitzgerald initiated coverage on Live Oak Bancshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $42.00 target price on the stock. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Live Oak Bancshares Price Performance

Shares of Live Oak Bancshares stock opened at $30.69 on Friday. The company’s 50 day moving average price is $33.78 and its two-hundred day moving average price is $32.30. The firm has a market capitalization of $1.40 billion, a P/E ratio of 21.17 and a beta of 1.98. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.16.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. 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.