Live Oak Bancshares, Inc. $LOB Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Live Oak Bancshares by 285.3% in the first quarter, owning 63,721 shares valued at $1.69 million.
• Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a "market perform" rating to "outperform," raising the price target from $37 to $43.
• Live Oak Bancshares announced a dividend of $0.03 per share, with a yield of 30.0%, payable on September 15th to shareholders of record on September 2nd.

Quantbot Technologies LP boosted its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 285.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,721 shares of the bank's stock after buying an additional 47,181 shares during the period. Quantbot Technologies LP owned approximately 0.14% of Live Oak Bancshares worth $1,699,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Live Oak Bancshares during the 1st quarter worth $8,116,000. Citigroup Inc. raised its stake in shares of Live Oak Bancshares by 428.2% during the 1st quarter. Citigroup Inc. now owns 295,250 shares of the bank's stock worth $7,871,000 after buying an additional 239,356 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Live Oak Bancshares during the 4th quarter worth $5,277,000. Motley Fool Wealth Management LLC raised its stake in shares of Live Oak Bancshares by 80.5% during the 1st quarter. Motley Fool Wealth Management LLC now owns 263,859 shares of the bank's stock worth $7,034,000 after buying an additional 117,674 shares during the last quarter. Finally, AmeriServ Wealth Advisors acquired a new position in shares of Live Oak Bancshares during the 4th quarter worth $4,443,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised shares of Live Oak Bancshares from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $37.00 to $43.00 in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $44.33.

Live Oak Bancshares Price Performance

NASDAQ LOB traded up $0.45 on Wednesday, reaching $38.50. The company had a trading volume of 46,724 shares, compared to its average volume of 290,361. The firm has a market capitalization of $1.76 billion, a PE ratio of 26.61 and a beta of 1.82. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57. The firm has a 50-day moving average of $32.22 and a 200-day moving average of $29.45.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a sep 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.03 dividend. This represents a dividend yield of 30.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio is presently 9.84%.

Live Oak Bancshares Company 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.