Emerald Mutual Fund Advisers Trust raised its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 165.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,607 shares of the bank’s stock after acquiring an additional 190,460 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Live Oak Bancshares were worth $14,504,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of LOB. Federated Hermes Inc. bought a new position in shares of Live Oak Bancshares during the 3rd quarter worth approximately $28,000. Valeo Financial Advisors LLC grew its stake in shares of Live Oak Bancshares by 73.0% in the third quarter. Valeo Financial Advisors LLC now owns 1,730 shares of the bank’s stock valued at $44,000 after buying an additional 730 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Live Oak Bancshares in the third quarter valued at $51,000. Advisor Group Holdings Inc. grew its stake in shares of Live Oak Bancshares by 406.2% in the second quarter. Advisor Group Holdings Inc. now owns 5,442 shares of the bank’s stock valued at $79,000 after buying an additional 4,367 shares in the last quarter. Finally, Lee Financial Co bought a new position in shares of Live Oak Bancshares in the third quarter valued at $91,000. 43.59% of the stock is owned by institutional investors.
LOB has been the subject of several analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Live Oak Bancshares in a research note on Sunday, December 13th. They issued an “outperform” rating and a $56.00 target price for the company. Zacks Investment Research raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday. Truist lifted their price objective on shares of Live Oak Bancshares from $28.00 to $43.00 in a research report on Monday, October 26th. Finally, Raymond James lifted their price objective on shares of Live Oak Bancshares from $42.00 to $50.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 29th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.83.
In other news, Director H K. Landis sold 15,000 shares of Live Oak Bancshares stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $40.60, for a total transaction of $609,000.00. Following the completion of the sale, the director now owns 213,300 shares of the company’s stock, valued at $8,659,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 25.10% of the stock is currently owned by company insiders.
LOB opened at $40.51 on Wednesday. Live Oak Bancshares, Inc. has a fifty-two week low of $7.57 and a fifty-two week high of $52.45. The company has a market capitalization of $1.65 billion, a P/E ratio of 46.03 and a beta of 1.30. The stock has a fifty day moving average of $47.35 and a 200-day moving average of $33.90.
Live Oak Bancshares (NASDAQ:LOB) last posted its earnings results on Tuesday, January 26th. The bank reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.16. Live Oak Bancshares had a return on equity of 6.83% and a net margin of 10.11%. As a group, sell-side analysts expect that Live Oak Bancshares, Inc. will post 1.27 EPS for the current year.
About Live Oak Bancshares
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, as well as interest-bearing checking, money market, savings, and time deposits.
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