Trexquant Investment LP Purchases 15,767 Shares of Live Oak Bancshares, Inc. $LOB

Key Points

• Trexquant Investment LP increased its stake in Live Oak Bancshares, Inc. by 34.6%, bringing their total ownership to 61,284 shares valued at approximately $1,634,000.
• Live Oak Bancshares announced a $0.03 dividend to be paid on September 15th, with an impressive yield of 32.0%.
• Wall Street analysts have raised the company's rating to "outperform" and increased the price target from $37.00 to $43.00, indicating a positive outlook for the stock.

Trexquant Investment LP increased its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 34.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,284 shares of the bank's stock after purchasing an additional 15,767 shares during the period. Trexquant Investment LP owned about 0.13% of Live Oak Bancshares worth $1,634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of LOB. Stifel Financial Corp increased its position in shares of Live Oak Bancshares by 15.6% during the fourth quarter. Stifel Financial Corp now owns 22,791 shares of the bank's stock valued at $901,000 after purchasing an additional 3,071 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Live Oak Bancshares by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,437 shares of the bank's stock valued at $1,086,000 after purchasing an additional 2,594 shares during the period. Northern Trust Corp boosted its stake in Live Oak Bancshares by 3.2% in the 4th quarter. Northern Trust Corp now owns 314,325 shares of the bank's stock valued at $12,432,000 after buying an additional 9,661 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Live Oak Bancshares by 42.3% in the 4th quarter. BNP Paribas Financial Markets now owns 35,649 shares of the bank's stock valued at $1,410,000 after buying an additional 10,595 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in Live Oak Bancshares by 10.4% in the 4th 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. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Price Performance

Shares of LOB stock opened at $38.39 on Friday. The stock's fifty day simple moving average is $33.72 and its 200 day simple moving average is $29.70. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 26.48 and a beta of 1.75.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 2nd. This represents a yield of 32.0%. Live Oak Bancshares's payout ratio is presently 9.84%.

Wall Street Analysts Forecast Growth

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

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.

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