Park Avenue Securities LLC Invests $283,000 in Live Oak Bancshares, Inc. $LOB

Key Points

• Park Avenue Securities LLC invested approximately $283,000 in Live Oak Bancshares, acquiring 9,499 shares of the bank's stock in the second quarter.
• Analysts have given Live Oak Bancshares ratings of "Moderate Buy" with an average price target of $45.00, following various reports from firms such as Cowen and Keefe, Bruyette & Woods.
• The stock of Live Oak Bancshares recently opened at $35.17, with a 12-month trading range between $22.68 and $50.30.

Park Avenue Securities LLC acquired a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,499 shares of the bank's stock, valued at approximately $283,000.

Other large investors also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Live Oak Bancshares during the first quarter worth $68,000. PDT Partners LLC bought a new position in Live Oak Bancshares in the first quarter valued at $225,000. GAMMA Investing LLC grew its position in Live Oak Bancshares by 4,595.5% in the first quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock valued at $252,000 after purchasing an additional 9,237 shares in the last quarter. Howe & Rusling Inc. grew its position in Live Oak Bancshares by 15.7% in the first quarter. Howe & Rusling Inc. now owns 9,848 shares of the bank's stock valued at $263,000 after purchasing an additional 1,335 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in 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 in the last quarter. Institutional investors own 63.95% of the company's stock.

Wall Street Analysts Forecast Growth

LOB has been the subject of a number of analyst reports. Cowen initiated coverage on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. They issued a "buy" rating for the company. National Bankshares set a $50.00 price objective on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. Keefe, Bruyette & Woods raised shares of Live Oak Bancshares from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $37.00 to $43.00 in a research report on Tuesday, August 19th. Finally, Cantor Fitzgerald began coverage on shares of Live Oak Bancshares in a research note on Wednesday, September 10th. They set a "neutral" rating and a $42.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.00.

Live Oak Bancshares Stock Down 1.8%

LOB stock opened at $35.17 on Wednesday. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $50.30. The firm has a market cap of $1.61 billion, a P/E ratio of 24.26 and a beta of 1.75. The company's 50-day moving average price is $35.30 and its two-hundred day moving average price is $30.41.

Live Oak Bancshares Dividend Announcement

The business also recently declared a sep 25 dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a dividend yield of 32.0%. Live Oak Bancshares's payout ratio is 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.

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