AlphaQuest LLC Buys 22,326 Shares of Live Oak Bancshares, Inc. $LOB

AlphaQuest LLC increased its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 260.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,893 shares of the bank’s stock after buying an additional 22,326 shares during the quarter. AlphaQuest LLC owned 0.07% of Live Oak Bancshares worth $1,088,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LOB. one8zero8 LLC boosted its holdings in Live Oak Bancshares by 9.2% during the 3rd quarter. one8zero8 LLC now owns 77,036 shares of the bank’s stock worth $2,713,000 after acquiring an additional 6,500 shares during the last quarter. Truist Financial Corp lifted its position in shares of Live Oak Bancshares by 9.5% during the third quarter. Truist Financial Corp now owns 22,432 shares of the bank’s stock valued at $790,000 after purchasing an additional 1,946 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Live Oak Bancshares by 7,761.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 103,063 shares of the bank’s stock worth $3,577,000 after purchasing an additional 101,752 shares during the last quarter. Whittier Trust Co. grew its position in Live Oak Bancshares by 937,663.2% in the 3rd quarter. Whittier Trust Co. now owns 178,175 shares of the bank’s stock worth $6,184,000 after purchasing an additional 178,156 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Live Oak Bancshares in the 3rd quarter valued at about $512,000. 63.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Live Oak Bancshares has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, Director Tonya Williams Bradford bought 1,000 shares of Live Oak Bancshares stock in a transaction dated Thursday, November 20th. The stock was purchased at an average price of $30.24 per share, for a total transaction of $30,240.00. Following the completion of the purchase, the director directly owned 6,697 shares of the company’s stock, valued at approximately $202,517.28. This trade represents a 17.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ewa Maria Stasiowska purchased 2,595 shares of the stock in a transaction dated Monday, January 26th. The stock was acquired at an average cost of $38.53 per share, for a total transaction of $99,985.35. Following the transaction, the insider owned 2,595 shares of the company’s stock, valued at approximately $99,985.35. This trade represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 23.40% of the stock is currently owned by insiders.

Live Oak Bancshares Stock Up 1.2%

LOB opened at $39.99 on Monday. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $42.89. The company’s 50-day moving average price is $35.60 and its two-hundred day moving average price is $34.69. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 27.58 and a beta of 2.02.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 2nd. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 5.41%.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.