Walleye Capital LLC Takes Position in Live Oak Bancshares, Inc. $LOB

Key Points

• Walleye Capital LLC purchased 55,693 shares of Live Oak Bancshares, Inc. for about $1.5 million, reflecting a 0.12% ownership stake.
• Live Oak Bancshares received an upgrade from Keefe, Bruyette & Woods from "market perform" to "outperform," raising its price target from $37.00 to $43.00.
• The company announced a dividend of $0.03 per share, with a dividend yield of 30.0%, highlighting its strong financial position.

Walleye Capital LLC bought a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,693 shares of the bank's stock, valued at approximately $1,485,000. Walleye Capital LLC owned about 0.12% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Live Oak Bancshares by 4,595.5% during the first quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock worth $252,000 after acquiring an additional 9,237 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Live Oak Bancshares by 100.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,802 shares of the bank's stock worth $1,034,000 after acquiring an additional 19,457 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Live Oak Bancshares by 20.2% during the first quarter. Rice Hall James & Associates LLC now owns 155,471 shares of the bank's stock worth $4,145,000 after acquiring an additional 26,085 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Live Oak Bancshares by 16.4% during the first quarter. Envestnet Asset Management Inc. now owns 145,117 shares of the bank's stock worth $3,869,000 after acquiring an additional 20,430 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Live Oak Bancshares by 15.0% during the fourth quarter. Deutsche Bank AG now owns 86,017 shares of the bank's stock worth $3,402,000 after acquiring an additional 11,248 shares during the last quarter. Institutional investors own 63.95% of the company's stock.

Analysts Set New Price Targets

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

Live Oak Bancshares Stock Down 0.8%

Live Oak Bancshares stock traded down $0.29 during mid-day trading on Wednesday, reaching $37.29. 135,843 shares of the company's stock traded hands, compared to its average volume of 290,021. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 25.70 and a beta of 1.75. The stock has a 50 day moving average of $33.21 and a two-hundred day moving average of $29.58. Live Oak Bancshares, Inc. has a 12-month low of $22.68 and a 12-month high of $50.57.

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 paid a dividend of $0.03 per share. 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 presently 9.84%.

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.