Palogic Value Management L.P. Acquires New Position in Live Oak Bancshares, Inc. $LOB

Palogic Value Management L.P. acquired a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,500 shares of the bank’s stock, valued at approximately $372,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Live Oak Bancshares in the 1st quarter valued at about $68,000. CWM LLC raised 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 acquiring an additional 3,667 shares during the period. Public Employees Retirement System of Ohio raised its stake in Live Oak Bancshares by 37.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,481 shares of the bank’s stock valued at $223,000 after acquiring an additional 2,040 shares during the period. PDT Partners LLC bought a new stake in Live Oak Bancshares in the 1st quarter valued at about $225,000. Finally, Ballentine Partners LLC raised its stake in Live Oak Bancshares by 14.9% in the 2nd quarter. Ballentine Partners LLC now owns 8,671 shares of the bank’s stock valued at $258,000 after acquiring an additional 1,122 shares during the period. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Stock Performance

Shares of LOB stock opened at $31.15 on Friday. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.17. The stock has a 50 day moving average price of $35.80 and a two-hundred day moving average price of $31.78. The company has a market capitalization of $1.42 billion, a P/E ratio of 21.48 and a beta of 1.81.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a sep 25 dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.03 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a yield of 32.0%. Live Oak Bancshares’s payout ratio is presently 8.05%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target 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. Cantor Fitzgerald initiated coverage on Live Oak Bancshares in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $42.00 target price for the company. Keefe, Bruyette & Woods raised Live Oak Bancshares from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $37.00 to $43.00 in a research note on Tuesday, August 19th. National Bankshares set a $50.00 target price on Live Oak Bancshares in a research note on Wednesday, September 24th. Finally, Cowen initiated coverage on Live Oak Bancshares in a research note on Wednesday, September 24th. They issued a “buy” rating for the company. Two 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.