Quest Partners LLC Invests $391,000 in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Quest Partners LLC acquired a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,603 shares of the bank’s stock, valued at approximately $391,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Live Oak Bancshares by 66.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after purchasing an additional 551 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Live Oak Bancshares by 1,127.6% during the fourth quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock worth $97,000 after purchasing an additional 1,962 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Live Oak Bancshares by 34.8% during the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after purchasing an additional 775 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Live Oak Bancshares by 48.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock worth $177,000 after purchasing an additional 2,002 shares during the last quarter. Finally, Arbor Investment Advisors LLC bought a new stake in shares of Live Oak Bancshares during the fourth quarter worth $211,000. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Price Performance

LOB traded up $0.38 during trading on Friday, hitting $34.17. The stock had a trading volume of 103,491 shares, compared to its average volume of 140,961. The company has a 50 day moving average price of $37.40 and a 200-day moving average price of $38.27. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 16.98 and a beta of 1.63. Live Oak Bancshares, Inc. has a one year low of $21.55 and a one year high of $47.22.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.12). Live Oak Bancshares had a return on equity of 10.25% and a net margin of 10.62%. The business had revenue of $116.21 million for the quarter, compared to analyst estimates of $118.89 million. As a group, sell-side analysts predict that Live Oak Bancshares, Inc. will post 1.99 EPS for the current fiscal year.

Live Oak Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.03 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. Live Oak Bancshares’s payout ratio is 6.03%.

Analyst Ratings Changes

Several analysts have recently commented on LOB shares. Truist Financial decreased their target price on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday, April 26th. Finally, TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $38.00.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total value of $397,300.00. Following the transaction, the director now owns 121,941 shares in the company, valued at $4,844,715.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now directly owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Micah S. Davis sold 8,613 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The disclosure for this sale can be found here. Insiders have sold a total of 21,213 shares of company stock worth $834,222 in the last 90 days. Corporate insiders own 23.90% of the company’s stock.

Live Oak Bancshares 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.