Millennium Management LLC purchased a new stake in Live Oak Bancshares Inc (NASDAQ:LOB) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 289,239 shares of the bank’s stock, valued at approximately $4,284,000.
Other large investors have also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY boosted its position in shares of Live Oak Bancshares by 290.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,503 shares of the bank’s stock valued at $126,000 after acquiring an additional 6,327 shares during the period. Bank of America Corp DE boosted its position in shares of Live Oak Bancshares by 18.6% in the fourth quarter. Bank of America Corp DE now owns 49,197 shares of the bank’s stock valued at $728,000 after acquiring an additional 7,708 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Live Oak Bancshares in the fourth quarter valued at about $820,000. Two Sigma Investments LP bought a new stake in shares of Live Oak Bancshares in the fourth quarter valued at about $2,764,000. Finally, Principal Financial Group Inc. boosted its position in shares of Live Oak Bancshares by 72.4% in the fourth quarter. Principal Financial Group Inc. now owns 14,609 shares of the bank’s stock valued at $216,000 after acquiring an additional 6,133 shares during the period. Institutional investors and hedge funds own 66.55% of the company’s stock.
A number of equities research analysts have recently issued reports on LOB shares. ValuEngine raised shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Zacks Investment Research raised shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, BidaskClub raised shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.00.
Shares of Live Oak Bancshares stock opened at $16.61 on Wednesday. The stock has a market capitalization of $645.35 million, a PE ratio of 12.17 and a beta of 0.85. Live Oak Bancshares Inc has a 52-week low of $13.09 and a 52-week high of $32.95.
Live Oak Bancshares (NASDAQ:LOB) last announced its earnings results on Wednesday, January 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.14. The company had revenue of $46.86 million during the quarter, compared to analysts’ expectations of $48.76 million. Live Oak Bancshares had a net margin of 19.31% and a return on equity of 11.60%. On average, sell-side analysts forecast that Live Oak Bancshares Inc will post 0.26 EPS for the current year.
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About Live Oak Bancshares
Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, savings, and time deposits.
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