Persistent Asset Partners Ltd Takes $699,000 Position in Live Oak Bancshares, Inc. $LOB

Persistent Asset Partners Ltd purchased a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the second quarter, Holdings Channel.com reports. The firm purchased 23,473 shares of the bank’s stock, valued at approximately $699,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its holdings in Live Oak Bancshares by 1.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,484,524 shares of the bank’s stock worth $172,878,000 after acquiring an additional 65,038 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Live Oak Bancshares by 1.0% during the first quarter. Vanguard Group Inc. now owns 2,657,737 shares of the bank’s stock worth $70,855,000 after purchasing an additional 26,481 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Live Oak Bancshares by 2.8% during the second quarter. Geode Capital Management LLC now owns 817,181 shares of the bank’s stock valued at $24,355,000 after purchasing an additional 22,230 shares during the last quarter. Millennium Management LLC grew its stake in shares of Live Oak Bancshares by 655.6% during the first quarter. Millennium Management LLC now owns 687,885 shares of the bank’s stock valued at $18,339,000 after purchasing an additional 596,841 shares during the last quarter. Finally, Motley Fool Wealth Management LLC increased its holdings in shares of Live Oak Bancshares by 38.9% in the second quarter. Motley Fool Wealth Management LLC now owns 366,608 shares of the bank’s stock valued at $10,925,000 after purchasing an additional 102,749 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LOB shares. Cowen assumed coverage on Live Oak Bancshares in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Cantor Fitzgerald began coverage on Live Oak Bancshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $42.00 price target on the stock. Piper Sandler lowered their price objective on Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Keefe, Bruyette & Woods raised Live Oak Bancshares from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $37.00 to $43.00 in a report on Tuesday, August 19th. Finally, National Bankshares set a $50.00 target price on shares of Live Oak Bancshares in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Live Oak Bancshares Stock Down 0.4%

Shares of Live Oak Bancshares stock opened at $31.16 on Friday. The business has a fifty day simple moving average of $34.49 and a 200 day simple moving average of $32.23. The stock has a market cap of $1.42 billion, a PE ratio of 21.49 and a beta of 1.98. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $50.16.

Live Oak Bancshares Announces Dividend

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