Metropolitan Life Insurance Co. NY boosted its stake in shares of Live Oak Bancshares Inc (NASDAQ:LOB) by 290.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,503 shares of the bank’s stock after buying an additional 6,327 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Live Oak Bancshares were worth $126,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL raised its holdings in Live Oak Bancshares by 27.5% during the 4th quarter. Virginia Retirement Systems ET AL now owns 20,400 shares of the bank’s stock valued at $302,000 after buying an additional 4,400 shares during the period. Morgan Stanley raised its holdings in Live Oak Bancshares by 29.1% during the 3rd quarter. Morgan Stanley now owns 86,760 shares of the bank’s stock valued at $2,325,000 after buying an additional 19,556 shares during the period. AQR Capital Management LLC raised its holdings in Live Oak Bancshares by 107.0% during the 3rd quarter. AQR Capital Management LLC now owns 18,063 shares of the bank’s stock valued at $484,000 after buying an additional 9,338 shares during the period. Carroll Financial Associates Inc. raised its holdings in Live Oak Bancshares by 18.2% during the 4th quarter. Carroll Financial Associates Inc. now owns 125,183 shares of the bank’s stock valued at $1,956,000 after buying an additional 19,268 shares during the period. Finally, NJ State Employees Deferred Compensation Plan grew its position in Live Oak Bancshares by 100.0% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the bank’s stock valued at $296,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 66.55% of the company’s stock.
In other news, Director Diane Beth Glossman purchased 2,000 shares of the company’s stock in a transaction dated Monday, January 28th. The shares were acquired at an average price of $13.87 per share, with a total value of $27,740.00. Following the transaction, the director now owns 30,102 shares of the company’s stock, valued at $417,514.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Huntley Garriott purchased 20,000 shares of the company’s stock in a transaction dated Monday, January 28th. The shares were purchased at an average cost of $13.82 per share, for a total transaction of $276,400.00. Following the transaction, the insider now directly owns 55,000 shares in the company, valued at approximately $760,100. The disclosure for this purchase can be found here. Insiders acquired a total of 31,665 shares of company stock worth $440,565 in the last ninety days. 25.70% of the stock is currently owned by corporate insiders.
Shares of Live Oak Bancshares stock opened at $16.60 on Friday. The firm has a market capitalization of $645.35 million, a price-to-earnings ratio of 12.58 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 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 company had revenue of $46.86 million for the quarter, compared to the consensus estimate of $48.76 million. Live Oak Bancshares had a return on equity of 11.60% and a net margin of 19.31%. On average, equities research analysts expect that Live Oak Bancshares Inc will post 0.26 earnings per share for the current fiscal year.
LOB has been the topic of several research analyst reports. ValuEngine downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Zacks Investment Research raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Finally, BidaskClub downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.
Live Oak Bancshares Profile
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.
Further Reading: SEC Filing
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