California Public Employees Retirement System Increases Holdings in Live Oak Bancshares, Inc. (LOB)

California Public Employees Retirement System grew its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 56.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,100 shares of the bank’s stock after acquiring an additional 5,800 shares during the quarter. California Public Employees Retirement System’s holdings in Live Oak Bancshares were worth $390,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of Live Oak Bancshares by 3.5% during the 1st quarter. Bank of America Corp DE now owns 5,468 shares of the bank’s stock worth $118,000 after buying an additional 185 shares during the period. Credit Suisse AG lifted its position in shares of Live Oak Bancshares by 2.0% during the 1st quarter. Credit Suisse AG now owns 10,677 shares of the bank’s stock worth $231,000 after buying an additional 207 shares during the period. Alliancebernstein L.P. lifted its position in shares of Live Oak Bancshares by 24.1% during the 2nd quarter. Alliancebernstein L.P. now owns 17,500 shares of the bank’s stock worth $424,000 after buying an additional 3,400 shares during the period. Gratus Capital LLC bought a new position in shares of Live Oak Bancshares during the 2nd quarter worth approximately $448,000. Finally, Rhumbline Advisers lifted its position in shares of Live Oak Bancshares by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 20,994 shares of the bank’s stock worth $508,000 after buying an additional 945 shares during the period. Institutional investors own 31.87% of the company’s stock.

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) opened at $24.20 on Friday. Live Oak Bancshares, Inc. has a twelve month low of $16.60 and a twelve month high of $26.05. The firm has a market capitalization of $965.00, a price-to-earnings ratio of 25.21 and a beta of -0.09. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.14. Live Oak Bancshares had a return on equity of 13.60% and a net margin of 17.68%. The firm had revenue of $46.09 million during the quarter, compared to analysts’ expectations of $42.56 million. equities analysts anticipate that Live Oak Bancshares, Inc. will post 1.07 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, November 10th. This represents a $0.12 dividend on an annualized basis and a yield of 0.50%. Live Oak Bancshares’s dividend payout ratio is 12.90%.

Several equities analysts recently commented on LOB shares. Zacks Investment Research downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Sandler O’Neill upgraded Live Oak Bancshares from a “hold” rating to a “buy” rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Wednesday, September 6th. BidaskClub downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. SunTrust Banks, Inc. restated a “buy” rating and set a $27.00 target price on shares of Live Oak Bancshares in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods started coverage on Live Oak Bancshares in a research report on Monday, October 16th. They set a “market perform” rating and a $26.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $26.50.

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In other Live Oak Bancshares news, Director Glen F. Hoffsis purchased 1,400 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average cost of $23.50 per share, with a total value of $32,900.00. Following the acquisition, the director now directly owns 85,382 shares of the company’s stock, valued at approximately $2,006,477. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 30.10% of the company’s stock.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a bank holding company. The Company conducts business operations primarily through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The loans originated by the Bank are guaranteed by the small business administration (SBA).

Want to see what other hedge funds are holding LOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Oak Bancshares, Inc. (NASDAQ:LOB).

Institutional Ownership by Quarter for Live Oak Bancshares (NASDAQ:LOB)

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