10,000 Shares in Live Oak Bancshares Inc (LOB) Purchased by NJ State Employees Deferred Compensation Plan

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NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Live Oak Bancshares Inc (NASDAQ:LOB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,000 shares of the bank’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. increased its position in Live Oak Bancshares by 45.1% during the 1st quarter. Citigroup Inc. now owns 5,550 shares of the bank’s stock valued at $154,000 after buying an additional 1,724 shares in the last quarter. Element Capital Management LLC acquired a new position in Live Oak Bancshares during the 1st quarter valued at about $202,000. UBS Group AG increased its position in Live Oak Bancshares by 440.3% during the 1st quarter. UBS Group AG now owns 7,315 shares of the bank’s stock valued at $204,000 after buying an additional 5,961 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new position in Live Oak Bancshares during the 2nd quarter valued at about $215,000. Finally, Arbor Investment Advisors LLC purchased a new stake in Live Oak Bancshares during the 2nd quarter valued at about $221,000. Institutional investors own 44.41% of the company’s stock.

Shares of LOB traded down $0.45 during mid-day trading on Friday, reaching $18.95. The company had a trading volume of 119,815 shares, compared to its average volume of 375,267. The company has a market capitalization of $768.62 million, a price-to-earnings ratio of 15.16 and a beta of 0.80. The company has a quick ratio of 0.64, a current ratio of 0.90 and a debt-to-equity ratio of 0.01. Live Oak Bancshares Inc has a 52-week low of $18.15 and a 52-week high of $32.95.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $52.06 million for the quarter, compared to the consensus estimate of $58.79 million. Live Oak Bancshares had a return on equity of 13.50% and a net margin of 34.19%. As a group, equities analysts anticipate that Live Oak Bancshares Inc will post 1.34 EPS for the current fiscal year.

Several research firms have weighed in on LOB. BidaskClub downgraded Live Oak Bancshares from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 27th. Zacks Investment Research downgraded Live Oak Bancshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 1st. ValuEngine downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Finally, SunTrust Banks lowered their target price on Live Oak Bancshares from $32.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Live Oak Bancshares has an average rating of “Hold” and an average target price of $29.00.

In related news, CFO S. Brett Caines sold 6,733 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $29.70, for a total value of $199,970.10. Following the completion of the sale, the chief financial officer now owns 267,326 shares of the company’s stock, valued at $7,939,582.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William Henderson Cameron purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was bought at an average cost of $18.42 per share, with a total value of $46,050.00. The disclosure for this purchase can be found here. Insiders have acquired 6,000 shares of company stock valued at $112,695 in the last three months. Insiders own 25.70% of the company’s stock.

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Live Oak Bancshares 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 Bancshares (NASDAQ:LOB)

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