Deutsche Bank AG Acquires 37,823 Shares of Live Oak Bancshares, Inc. $LOB

Key Points

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Deutsche Bank AG lifted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 44.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,840 shares of the bank's stock after acquiring an additional 37,823 shares during the period. Deutsche Bank AG owned approximately 0.27% of Live Oak Bancshares worth $3,302,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. grew its stake in shares of Live Oak Bancshares by 10.4% in the fourth quarter. Benjamin Edwards Inc. now owns 8,516 shares of the bank's stock valued at $337,000 after acquiring an additional 799 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Live Oak Bancshares during the fourth quarter worth about $346,000. GAMMA Investing LLC lifted its position in Live Oak Bancshares by 4,595.5% during the first quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock worth $252,000 after purchasing an additional 9,237 shares during the period. ProShare Advisors LLC lifted its position in Live Oak Bancshares by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 9,766 shares of the bank's stock worth $386,000 after purchasing an additional 3,214 shares during the period. Finally, LPL Financial LLC lifted its position in Live Oak Bancshares by 7.9% during the fourth quarter. LPL Financial LLC now owns 10,326 shares of the bank's stock worth $408,000 after purchasing an additional 757 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised shares of Live Oak Bancshares from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $37.00 to $43.00 in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.33.

Live Oak Bancshares Stock Up 7.8%

Shares of LOB stock traded up $2.7330 on Friday, reaching $37.7630. The company had a trading volume of 550,249 shares, compared to its average volume of 291,918. The stock has a market capitalization of $1.73 billion, a PE ratio of 26.04 and a beta of 1.82. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57. The business's 50-day moving average is $31.81 and its 200 day moving average is $29.42.

Live Oak Bancshares Announces Dividend

The business also recently announced a sep 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a dividend yield of 30.0%. Live Oak Bancshares's dividend payout ratio is 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.