Millennium Management LLC Takes $4.28 Million Position in Live Oak Bancshares Inc (LOB)

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.

In related news, Director William Henderson Cameron purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The stock was acquired at an average price of $14.79 per share, with a total value of $36,975.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Neil Lawrence Underwood purchased 7,165 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The stock was bought at an average cost of $13.88 per share, with a total value of $99,450.20. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 31,665 shares of company stock valued at $440,565. 25.70% of the stock is owned by insiders.

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.

ILLEGAL ACTIVITY WARNING: “Millennium Management LLC Takes $4.28 Million Position in Live Oak Bancshares Inc (LOB)” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2019/04/17/millennium-management-llc-takes-4-28-million-position-in-live-oak-bancshares-inc-lob.html.

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.

See Also: Why are percentage gainers important?

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)

Receive News & Ratings for Live Oak Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Oak Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit