Geode Capital Management LLC Purchases 5,359 Shares of Live Oak Bank (LOB)

Geode Capital Management LLC raised its position in shares of Live Oak Bank (NASDAQ:LOB) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 243,659 shares of the bank’s stock after buying an additional 5,359 shares during the period. Geode Capital Management LLC’s holdings in Live Oak Bank were worth $5,811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LOB. Teacher Retirement System of Texas purchased a new stake in shares of Live Oak Bank during the 4th quarter worth about $222,000. Citadel Advisors LLC purchased a new stake in shares of Live Oak Bank during the 4th quarter worth about $323,000. American International Group Inc. raised its stake in shares of Live Oak Bank by 18.5% in the 4th quarter. American International Group Inc. now owns 15,701 shares of the bank’s stock valued at $374,000 after acquiring an additional 2,446 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Live Oak Bank in the 4th quarter valued at approximately $456,000. Finally, California Public Employees Retirement System raised its stake in shares of Live Oak Bank by 28.5% in the 3rd quarter. California Public Employees Retirement System now owns 20,694 shares of the bank’s stock valued at $485,000 after acquiring an additional 4,594 shares in the last quarter. 45.70% of the stock is owned by institutional investors.

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A number of research analysts recently weighed in on LOB shares. TheStreet raised Live Oak Bank from a “c” rating to a “b” rating in a research note on Monday, February 26th. Zacks Investment Research raised Live Oak Bank from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, January 30th. Sandler O’Neill reissued a “buy” rating and issued a $30.00 price objective on shares of Live Oak Bank in a research note on Thursday, January 25th. Finally, BidaskClub raised Live Oak Bank from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.50.

Shares of LOB stock opened at $28.75 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. Live Oak Bank has a twelve month low of $20.75 and a twelve month high of $30.05. The company has a market capitalization of $1,010.25, a P/E ratio of 23.00 and a beta of 0.16.

Live Oak Bank (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.16. Live Oak Bank had a return on equity of 14.71% and a net margin of 36.36%. The business had revenue of $118.42 million for the quarter, compared to the consensus estimate of $114.39 million. research analysts forecast that Live Oak Bank will post 1.25 EPS for the current year.

In related news, CFO S. Brett Caines sold 7,429 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $26.92, for a total value of $199,988.68. Following the transaction, the chief financial officer now directly owns 423,384 shares of the company’s stock, valued at approximately $11,397,497.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 93,914 shares of company stock worth $2,499,843 over the last three months. 25.70% of the stock is owned by company insiders.

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Live Oak Bank Company Profile

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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Institutional Ownership by Quarter for Live Oak Bank (NASDAQ:LOB)

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