Spark Investment Management LLC Invests $253,000 in Live Oak Bancshares, Inc. (LOB)
Spark Investment Management LLC purchased a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) during the first quarter, Holdings Channel reports. The fund purchased 11,700 shares of the bank’s stock, valued at approximately $253,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in Live Oak Bancshares by 77.5% in the first quarter. US Bancorp DE now owns 4,614 shares of the bank’s stock valued at $100,000 after buying an additional 2,014 shares during the period. American International Group Inc. raised its stake in Live Oak Bancshares by 7.0% in the first quarter. American International Group Inc. now owns 12,038 shares of the bank’s stock valued at $261,000 after buying an additional 791 shares during the period. Sheets Smith Wealth Management acquired a new stake in Live Oak Bancshares during the first quarter valued at about $269,000. JPMorgan Chase & Co. acquired a new stake in Live Oak Bancshares during the first quarter valued at about $300,000. Finally, TD Asset Management Inc. acquired a new stake in Live Oak Bancshares during the first quarter valued at about $365,000. Institutional investors and hedge funds own 36.07% of the company’s stock.
Live Oak Bancshares, Inc. (NASDAQ LOB) traded up 0.20% during mid-day trading on Friday, hitting $25.50. 104,092 shares of the stock traded hands. The company’s 50 day moving average price is $24.78 and its 200-day moving average price is $21.71. Live Oak Bancshares, Inc. has a 1-year low of $12.68 and a 1-year high of $26.05. The stock has a market cap of $882.48 million, a price-to-earnings ratio of 59.16 and a beta of -0.16.
Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, April 26th. The bank reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $41.39 million for the quarter, compared to the consensus estimate of $38.78 million. Live Oak Bancshares had a net margin of 9.31% and a return on equity of 8.98%. Analysts predict that Live Oak Bancshares, Inc. will post $0.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.31%. The ex-dividend date was Friday, May 19th. Live Oak Bancshares’s dividend payout ratio is currently 18.61%.
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Separately, Zacks Investment Research lowered shares of Live Oak Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 21st.
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).
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