Harbor Capital Advisors Inc., a renowned institutional investor, recently disclosed its acquisition of Live Oak Bancshares, Inc. in the second quarter of this year. According to the filing with the Securities and Exchange Commission (SEC), Harbor Capital Advisors purchased 24,508 shares of Live Oak Bancshares’ stock, valued at around $645,000. This new position now accounts for 0.06% ownership in Live Oak Bancshares.
Live Oak Bancshares is a publicly traded company listed on the NASDAQ under the ticker symbol LOB. The bank’s stock has attracted considerable attention from investors due to its solid performance in the financial market. As of Harbor Capital Advisors’ latest filing with the SEC, it holds a significant stake in Live Oak Bancshares.
In addition to this acquisition news, Live Oak Bancshares recently announced its quarterly dividend that will be disbursed on September 19th. Shareholders who were on record as of September 5th will receive a dividend payout of $0.03 per share. This equates to an annualized dividend of $0.12 with a yield of 0.38%. It should be noted that shareholders who purchase shares after September 1st will not be eligible for this dividend distribution.
The current payout ratio for Live Oak Bancshares stands at 8.57%. This indicates that the bank is distributing approximately 8.57% of its earnings as dividends to its shareholders, leaving room for reinvestment and potential future growth.
This news regarding Harbor Capital Advisors’ acquisition and Live Oak Bancshares’ dividend distribution showcases not only their ongoing success but also highlights their commitment to shareholder value and consistent returns on investment.
Investors and market analysts are expected to closely observe these developments within Live Oak Bancshares, as they provide insights into the bank’s financial performance and strategic direction moving forward.
Disclaimer: The information presented here is based on publicly available data as of September 19, 2023. We strongly advise readers to conduct their own research and consult with a financial advisor before making any investment decisions.
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Updated on: 19/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
12:00 AM (UTC)
Date:20 September, 2023
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Changes in Institutional Holdings and Mixed Analyst Opinions Impact Live Oak Bancshares’ Performance and Outlook
Live Oak Bancshares, Inc. (LOB) has seen recent changes to its stake holdings by various hedge funds and institutional investors. Amundi acquired a new stake in the company during the fourth quarter of the previous year, amounting to approximately $92,000. Global Retirement Partners LLC also increased its stake by 36.5% in the first quarter, now owning 4,371 shares worth $95,000. US Bancorp DE saw a 25.6% increase in their position during the first quarter as well, with 5,106 shares valued at $124,000. Point72 Hong Kong Ltd witnessed an 82.9% growth in their stake during the same period, now owning 2,785 shares worth around $142,000. Dark Forest Capital Management LP experienced a substantial increase in their stake with a whopping 705.8% rise, bringing their total ownership to 6,229 shares valued at $152,000. These figures indicate that institutional investors and hedge funds now hold a significant proportion of Live Oak Bancshares’ stock – specifically about 62.12%.
Several equity analysts have recently published reports on LOB shares and have provided various opinions on its performance and outlook. Truist Financial raised their price target from $26 to $28 in one report while Piper Sandler upped their price objective from $25 to $34 on July 27th. JPMorgan Chase & Co., on the other hand, increased their target price from $26.50 to $32 in late June.
However, it should be noted that StockNews.com recently upgraded Live Oak Bancshares’ rating to “sell” on August 31st while VNET Group maintained a “hold” rating back at the end of June.
As for recent market activity for LOB stock, it opened at a price of $31.22 on September 19th and has seen fluctuations with a 52-week low of $17.31 and a high of $38.37. The company’s 50-day moving average stands at $33.20, while the two-hundred-day moving average is recorded at $27.67. With a market capitalization of approximately $1.38 billion, Live Oak Bancshares boasts a PE ratio of 23.49 and carries a beta score of 1.59.
Regarding financial performance, Live Oak Bancshares reported its quarterly earnings results on July 25th, revealing that the bank exceeded analysts’ expectations with an EPS of $0.39 compared to the consensus estimate of $0.31 per share – a positive difference of $0.08.
Moreover, Live Oak Bancshares achieved a return on equity (ROE) of 7.66% and a net margin of 9.02%. The company generated revenue totaling $108.46 million during the quarter, slightly surpassing analysts’ predictions of $107.30 million.
Based on sell-side analysts’ estimates, it is anticipated that Live Oak Bancshares will post an EPS figure of 1.46 for the current fiscal year.
In conclusion, Live Oak Bancshares has experienced changes in stake holdings by institutional investors and hedge funds in recent times, solidifying their presence with substantial shares in the company’s stock ownership.
Meanwhile, various equity analysts have provided mixed opinions on LOB shares’ performance with price target adjustments and differing ratings from hold to sell or buy.
Live Oak Bancshares’ market activity shows fluctuations within its trading range over the past year.
The company’s quarterly financial results were encouraging as they surpassed analyst expectations regarding EPS and revenue figures.
Overall, we will have to continue monitoring future developments to gain further insights into the company’s trajectory and potential for growth moving forward.’