CenterBook Partners LP Increases Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Key Points

• CenterBook Partners LP increased its stake in Live Oak Bancshares by 49.2%, owning 173,565 shares valued at approximately $4.6 million.
• Capital International Investors significantly raised its position in the bank by 75.8%, now holding over 2 million shares worth $80.7 million.
• Live Oak Bancshares declared a quarterly dividend of $0.03 per share, corresponding to an annualized yield of 0.4%.

CenterBook Partners LP lifted its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 49.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,565 shares of the bank's stock after purchasing an additional 57,217 shares during the quarter. CenterBook Partners LP owned approximately 0.38% of Live Oak Bancshares worth $4,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Live Oak Bancshares by 0.6% during the 4th quarter. Invesco Ltd. now owns 50,720 shares of the bank's stock worth $2,006,000 after buying an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Live Oak Bancshares by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,714 shares of the bank's stock valued at $780,000 after buying an additional 682 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of 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 last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Live Oak Bancshares by 10.4% during the fourth quarter. Benjamin Edwards Inc. now owns 8,516 shares of the bank's stock worth $337,000 after purchasing an additional 799 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of Live Oak Bancshares by 2.1% during the fourth quarter. Trexquant Investment LP now owns 45,517 shares of the bank's stock worth $1,800,000 after purchasing an additional 938 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Trading Up 1.8%

NASDAQ:LOB traded up $0.55 during mid-day trading on Friday, hitting $31.09. The company had a trading volume of 184,573 shares, compared to its average volume of 289,098. The business has a fifty day simple moving average of $30.52 and a 200-day simple moving average of $29.55. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 21.44 and a beta of 1.82.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.12 annualized dividend and a yield of 0.4%. Live Oak Bancshares's dividend payout ratio (DPR) is 9.84%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods restated a "market perform" rating and set a $37.00 price objective (up previously from $36.00) on shares of Live Oak Bancshares in a report on Friday, July 25th.

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.