PDT Partners LLC Invests $225,000 in Live Oak Bancshares, Inc. $LOB

Key Points

• PDT Partners LLC acquired 8,443 shares of Live Oak Bancshares, Inc., valued at approximately $225,000, in the 1st quarter, according to the latest 13F filing.
• Live Oak Bancshares recently declared a $0.03 dividend, with a 32.0% yield, to be paid on September 15th to investors of record as of September 2nd.
• Analysts upgraded Live Oak Bancshares from a "market perform" to an "outperform" rating, raising the price target from $37.00 to $43.00, with a consensus price target of $44.33.

PDT Partners LLC acquired a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,443 shares of the bank's stock, valued at approximately $225,000.

Several other institutional investors have also recently added to or reduced their stakes in LOB. Invesco Ltd. grew its stake in shares of Live Oak Bancshares by 0.9% in the first quarter. Invesco Ltd. now owns 51,152 shares of the bank's stock valued at $1,364,000 after buying an additional 432 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Live Oak Bancshares by 3.6% in the fourth 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 in the last quarter. 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 buying an additional 799 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Live Oak Bancshares by 1.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,152 shares of the bank's stock valued at $3,486,000 after buying an additional 1,322 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Live Oak Bancshares by 5.0% in the fourth quarter. California State Teachers Retirement System now owns 33,580 shares of the bank's stock valued at $1,328,000 after buying an additional 1,601 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a "market perform" rating to an "outperform" rating and increased their target price for the company from $37.00 to $43.00 in a research note on Tuesday, August 19th. Cantor Fitzgerald assumed coverage on Live Oak Bancshares in a report on Wednesday. They issued a "neutral" rating and a $42.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.75.

Live Oak Bancshares Price Performance

LOB traded up $0.29 on Thursday, reaching $37.00. The company's stock had a trading volume of 247,841 shares, compared to its average volume of 289,993. The stock 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 1 year low of $22.68 and a 1 year high of $50.57. The business's 50 day moving average is $34.18 and its 200 day moving average is $29.82.

Live Oak Bancshares Announces Dividend

The firm also recently declared a sep 25 dividend, which will be paid on Monday, September 15th. Investors 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 yield of 32.0%. Live Oak Bancshares's dividend payout ratio is currently 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.