Bridgeway Capital Management LLC Buys 90,931 Shares of Live Oak Bancshares, Inc. $LOB

Key Points

• Bridgeway Capital Management LLC increased its holdings in Live Oak Bancshares by 91.2% in the 1st quarter, owning 190,682 shares valued at approximately $5.08 million.
• Live Oak Bancshares received upgrades from Keefe, Bruyette & Woods, moving from a "market perform" to an "outperform" rating with a new price target set at $43.00.
• The company announced a $0.03 dividend to be paid on September 15th, representing a dividend yield of 32.0%.

Bridgeway Capital Management LLC raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 91.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 190,682 shares of the bank's stock after purchasing an additional 90,931 shares during the quarter. Bridgeway Capital Management LLC owned 0.42% of Live Oak Bancshares worth $5,084,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOB. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Live Oak Bancshares during the 1st quarter worth about $68,000. PDT Partners LLC acquired a new position in Live Oak Bancshares during the 1st quarter worth about $225,000. GAMMA Investing LLC lifted 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 worth $252,000 after buying an additional 9,237 shares during the period. Benjamin Edwards Inc. lifted 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 worth $294,000 after buying an additional 2,522 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $316,000 after buying an additional 1,740 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LOB shares. Keefe, Bruyette & Woods raised Live Oak Bancshares from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $37.00 to $43.00 in a research report on Tuesday, August 19th. Cantor Fitzgerald started coverage on Live Oak Bancshares in a research report on Wednesday. They issued a "neutral" rating and a $42.00 price objective for the company. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.75.

Live Oak Bancshares Stock Performance

LOB traded up $0.27 during midday trading on Wednesday, reaching $36.99. 43,020 shares of the company were exchanged, compared to its average volume of 289,307. The company's fifty day moving average price is $33.99 and its 200 day moving average price is $29.74. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 25.51 and a beta of 1.75. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57.

Live Oak Bancshares Dividend Announcement

The company also recently announced a sep 25 dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.03 dividend. This represents a yield of 32.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio is currently 9.84%.

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.