Fuller & Thaler Asset Management Inc. Buys 37,084 Shares of Live Oak Bancshares, Inc. $LOB

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Live Oak Bancshares by 73%, acquiring 37,084 additional shares, bringing its total holdings to 87,874 shares valued at approximately $2.34 million.
• Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a "market perform" to an "outperform" rating, raising the price target from $37.00 to $43.00.
• Live Oak Bancshares is set to pay a $0.03 dividend on September 15, with a low dividend payout ratio of 9.84%.

Fuller & Thaler Asset Management Inc. boosted its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 73.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,874 shares of the bank's stock after acquiring an additional 37,084 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 0.19% of Live Oak Bancshares worth $2,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised 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 acquiring an additional 9,237 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Live Oak Bancshares by 29.6% in the first quarter. Benjamin Edwards Inc. now owns 11,038 shares of the bank's stock valued at $294,000 after purchasing an additional 2,522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Live Oak Bancshares by 17.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,860 shares of the bank's stock valued at $316,000 after purchasing an additional 1,740 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Live Oak Bancshares in the fourth quarter valued at $346,000. Finally, ProShare Advisors LLC increased its holdings in shares of Live Oak Bancshares by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 9,766 shares of the bank's stock valued at $386,000 after purchasing an additional 3,214 shares during the last quarter. 63.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Live Oak Bancshares Trading Up 7.8%

Live Oak Bancshares stock traded up $2.7330 during trading hours on Friday, reaching $37.7630. 550,249 shares of the stock were exchanged, compared to its average volume of 291,918. The company has a market cap of $1.73 billion, a P/E ratio of 26.04 and a beta of 1.82. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $50.57. The stock has a 50 day moving average of $31.81 and a two-hundred day moving average of $29.42.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a sep 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.03 per share. This represents a yield of 30.0%. The ex-dividend date is Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio is presently 9.84%.

Live Oak Bancshares Company 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.