PDT Partners LLC Purchases Shares of 31,021 Live Oak Bancshares, Inc. $LOB

Key Points

• PDT Partners purchased 31,021 shares of Live Oak Bancshares worth approximately $1.27 million, while institutional investors collectively own 63.95% of the company.
• Analyst sentiment is generally positive: Live Oak Bancshares has a “Moderate Buy” consensus rating and an average price target of $46.40, above its reported share price of $39.94.
• The company beat quarterly earnings expectations, reporting $0.74 in EPS versus the $0.64 consensus estimate, and declared a $0.03 quarterly dividend.

PDT Partners LLC purchased a new position in shares of Live Oak Bancshares, Inc. (NYSE:LOB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 31,021 shares of the company's stock, valued at approximately $1,267,000. PDT Partners LLC owned about 0.07% of Live Oak Bancshares as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Live Oak Bancshares in the second quarter valued at $143,588,000. Vanguard Group Inc. grew its position in shares of Live Oak Bancshares by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,702,627 shares of the company's stock valued at $92,835,000 after acquiring an additional 17,181 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Live Oak Bancshares by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,593,185 shares of the company's stock valued at $52,685,000 after acquiring an additional 54,750 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Live Oak Bancshares during the 2nd quarter worth about $55,546,000. Finally, State Street Corp increased its stake in shares of Live Oak Bancshares by 5.1% during the 4th quarter. State Street Corp now owns 1,308,462 shares of the company's stock worth $44,946,000 after purchasing an additional 63,325 shares during the last quarter. Institutional investors own 63.95% of the company's stock.

Wall Street Analyst Weigh In

LOB has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald boosted their price target on Live Oak Bancshares from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. Zacks Research upgraded Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. TD Cowen lifted their target price on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price on Live Oak Bancshares from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $46.40.

Live Oak Bancshares Price Performance

Shares of NYSE LOB opened at $39.94 on Thursday. The stock's fifty day moving average price is $41.62 and its two-hundred day moving average price is $38.36. Live Oak Bancshares, Inc. has a one year low of $29.36 and a one year high of $44.53. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 14.06 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.10. The company had revenue of $156.15 million during the quarter. Live Oak Bancshares had a return on equity of 11.77% and a net margin of 12.68%. On average, equities analysts anticipate that Live Oak Bancshares, Inc. will post 3.07 earnings per share for the current fiscal year.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Live Oak Bancshares's dividend payout ratio (DPR) is currently 4.23%.

Insiders Place Their Bets

In other news, Director William L. Williams III sold 8,400 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $43.08, for a total transaction of $361,872.00. Following the transaction, the director directly owned 1,114,126 shares of the company's stock, valued at approximately $47,996,548.08. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David G. Lucht sold 2,000 shares of Live Oak Bancshares stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.36, for a total transaction of $88,720.00. Following the completion of the sale, the director owned 13,623 shares of the company's stock, valued at approximately $604,316.28. The trade was a 12.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,454 shares of company stock worth $1,526,341 in the last quarter. 22.40% of the stock is currently owned by corporate insiders.

Live Oak Bancshares Profile

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company's primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.

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