MUFG Securities EMEA plc Purchases New Stake in Live Oak Bancshares Inc (LOB)

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MUFG Securities EMEA plc purchased a new stake in shares of Live Oak Bancshares Inc (NASDAQ:LOB) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 94,100 shares of the bank’s stock, valued at approximately $1,394,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in LOB. Hudock Capital Group LLC bought a new stake in shares of Live Oak Bancshares during the fourth quarter valued at approximately $44,000. Advisors Asset Management Inc. purchased a new position in shares of Live Oak Bancshares during the 3rd quarter worth $107,000. Acadian Asset Management LLC purchased a new position in shares of Live Oak Bancshares during the 4th quarter worth $169,000. Citigroup Inc. boosted its stake in shares of Live Oak Bancshares by 166.1% during the 4th quarter. Citigroup Inc. now owns 17,480 shares of the bank’s stock worth $259,000 after acquiring an additional 10,911 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan boosted its stake in shares of Live Oak Bancshares by 100.0% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the bank’s stock worth $296,000 after acquiring an additional 10,000 shares during the last quarter. 66.48% of the stock is owned by institutional investors.

Shares of LOB stock opened at $15.34 on Friday. The firm has a market cap of $616.04 million, a PE ratio of 11.62 and a beta of 0.87. Live Oak Bancshares Inc has a one year low of $13.09 and a one year high of $32.95.

Live Oak Bancshares (NASDAQ:LOB) last announced its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.14. The firm had revenue of $46.86 million for the quarter, compared to the consensus estimate of $48.76 million. Live Oak Bancshares had a net margin of 19.31% and a return on equity of 11.60%. On average, analysts anticipate that Live Oak Bancshares Inc will post 0.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th were given a dividend of $0.03 per share. The ex-dividend date was Monday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.78%. Live Oak Bancshares’s payout ratio is 9.09%.

LOB has been the topic of several analyst reports. Sandler O’Neill upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, December 12th. ValuEngine upgraded shares of Live Oak Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, December 15th. TheStreet cut shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Friday, December 14th. Zacks Investment Research upgraded shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, SunTrust Banks cut shares of Live Oak Bancshares from a “buy” rating to a “hold” rating and dropped their price target for the stock from $23.00 to $15.00 in a research note on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Live Oak Bancshares currently has an average rating of “Hold” and an average target price of $22.00.

In other news, Director Diane Beth Glossman acquired 2,000 shares of the firm’s stock in a transaction dated Monday, January 28th. The shares were purchased at an average cost of $13.87 per share, for a total transaction of $27,740.00. Following the transaction, the director now directly owns 30,102 shares of the company’s stock, valued at $417,514.74. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Neil Lawrence Underwood acquired 7,165 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $99,450.20. The disclosure for this purchase can be found here. Insiders have bought a total of 31,665 shares of company stock worth $440,565 over the last 90 days. Insiders own 25.70% of the company’s stock.

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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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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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