Dimensional Fund Advisors LP Boosts Holdings in Live Oak Bancshares Inc (LOB)
Dimensional Fund Advisors LP boosted its position in shares of Live Oak Bancshares Inc (NASDAQ:LOB) by 88.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,513 shares of the bank’s stock after buying an additional 152,183 shares during the period. Dimensional Fund Advisors LP’s holdings in Live Oak Bancshares were worth $9,916,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of LOB. BlackRock Inc. increased its stake in Live Oak Bancshares by 14.5% during the 2nd quarter. BlackRock Inc. now owns 1,608,387 shares of the bank’s stock worth $49,297,000 after buying an additional 204,144 shares in the last quarter. First Trust Advisors LP increased its stake in Live Oak Bancshares by 292.7% during the 2nd quarter. First Trust Advisors LP now owns 162,060 shares of the bank’s stock worth $4,967,000 after buying an additional 120,788 shares in the last quarter. Capital Impact Advisors LLC purchased a new stake in Live Oak Bancshares during the 2nd quarter worth approximately $1,784,000. Lord Abbett & CO. LLC increased its stake in Live Oak Bancshares by 25.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 251,365 shares of the bank’s stock worth $6,988,000 after buying an additional 50,200 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in Live Oak Bancshares during the 2nd quarter worth approximately $1,449,000. Institutional investors own 44.36% of the company’s stock.
In other Live Oak Bancshares news, Vice Chairman William L. Williams III acquired 35,000 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The shares were purchased at an average cost of $28.27 per share, for a total transaction of $989,450.00. Following the completion of the acquisition, the insider now owns 28,100 shares of the company’s stock, valued at approximately $794,387. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO S. Brett Caines sold 3,573 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $27.99, for a total value of $100,008.27. Following the completion of the transaction, the chief financial officer now owns 294,454 shares in the company, valued at $8,241,767.46. The disclosure for this sale can be found here. Insiders sold 27,310 shares of company stock valued at $799,996 over the last 90 days. Company insiders own 25.70% of the company’s stock.
LOB stock opened at $22.78 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.90 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $975.62 million, a PE ratio of 18.22 and a beta of 0.15. Live Oak Bancshares Inc has a 1 year low of $22.76 and a 1 year high of $32.95.
Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, July 25th. The bank reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $57.66 million during the quarter, compared to analyst estimates of $59.31 million. Live Oak Bancshares had a return on equity of 13.41% and a net margin of 35.16%. Equities research analysts predict that Live Oak Bancshares Inc will post 1.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Tuesday, September 11th were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, September 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.53%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 9.60%.
About Live Oak Bancshares
Live Oak Bancshares, Inc operates as the bank holding company for the Live Oak Banking Company that provides various commercial banking products and services to individuals and businesses in North Carolina. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, saving, and time deposits.
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