AlphaQuest LLC Grows Stake in Live Oak Bancshares, Inc. $LOB

Key Points

• AlphaQuest LLC increased its stake in Live Oak Bancshares, owning 23,758 shares after purchasing an additional 21,375 shares, marking a growth of 897.0% during Q1.
• Live Oak Bancshares has a market cap of $1.72 billion with a current stock price of $37.6850, and it announced a dividend of $0.03, yielding 30.0% for investors.
• Analysts at Keefe, Bruyette & Woods upgraded Live Oak Bancshares to an "outperform" rating with a price target increase from $37 to $43, alongside an average rating of "Moderate Buy" from MarketBeat.

AlphaQuest LLC increased its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 897.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,758 shares of the bank's stock after purchasing an additional 21,375 shares during the quarter. AlphaQuest LLC owned approximately 0.05% of Live Oak Bancshares worth $633,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Live Oak Bancshares during the 1st quarter valued at approximately $68,000. GAMMA Investing LLC grew its holdings in Live Oak Bancshares by 4,595.5% during the 1st quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock valued at $252,000 after buying an additional 9,237 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Live Oak Bancshares by 29.6% during the 1st quarter. Benjamin Edwards Inc. now owns 11,038 shares of the bank's stock valued at $294,000 after buying an additional 2,522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Live Oak Bancshares by 17.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,860 shares of the bank's stock valued at $316,000 after buying an additional 1,740 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Live Oak Bancshares during the 4th quarter valued at approximately $346,000. Hedge funds and other institutional investors own 63.95% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a "market perform" rating to an "outperform" rating and raised their price target for the company from $37.00 to $43.00 in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $44.33.

Live Oak Bancshares Trading Up 0.2%

Shares of LOB stock traded up $0.10 on Thursday, reaching $38.73. 290,538 shares of the company's stock were exchanged, compared to its average volume of 292,051. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The stock has a market capitalization of $1.77 billion, a PE ratio of 26.71 and a beta of 1.82. The company's fifty day simple moving average is $32.65 and its 200 day simple moving average is $29.54.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.03 per share. This represents a dividend yield of 30.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio (DPR) is currently 9.84%.

Live Oak Bancshares Profile

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.