Point72 Asset Management L.P. Invests $2.93 Million in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Point72 Asset Management L.P. acquired a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,120 shares of the bank's stock, valued at approximately $2,931,000. Point72 Asset Management L.P. owned about 0.16% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOB. Point72 Europe London LLP acquired a new stake in Live Oak Bancshares in the 4th quarter valued at approximately $2,140,000. ProShare Advisors LLC lifted its holdings in Live Oak Bancshares by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 9,766 shares of the bank's stock worth $386,000 after buying an additional 3,214 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $780,000 after buying an additional 682 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Live Oak Bancshares by 27.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 235,834 shares of the bank's stock valued at $9,327,000 after buying an additional 50,525 shares during the period. Finally, Deutsche Bank AG increased its holdings in Live Oak Bancshares by 15.0% during the 4th quarter. Deutsche Bank AG now owns 86,017 shares of the bank's stock worth $3,402,000 after purchasing an additional 11,248 shares during the period. Institutional investors and hedge funds own 63.95% of the company's stock.

Insiders Place Their Bets

In related news, Director William Henderson Cameron acquired 5,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $25.92 per share, with a total value of $129,600.00. Following the transaction, the director now owns 11,904 shares of the company's stock, valued at $308,551.68. The trade was a 72.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 23.40% of the company's stock.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB traded down $0.04 during midday trading on Friday, hitting $26.93. 365,486 shares of the company's stock were exchanged, compared to its average volume of 243,517. The firm's fifty day simple moving average is $26.18 and its 200-day simple moving average is $34.43. The company has a market cap of $1.23 billion, a PE ratio of 18.57 and a beta of 1.84. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $50.57.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.12 annualized dividend and a yield of 0.45%. Live Oak Bancshares's dividend payout ratio is presently 9.23%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $42.25.

About Live Oak Bancshares

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.