74,120 Shares in Live Oak Bancshares, Inc. (NASDAQ:LOB) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 74,120 shares of the bank’s stock, valued at approximately $2,931,000.

Several other institutional investors have also recently added to or reduced their stakes in LOB. Picton Mahoney Asset Management bought a new position in shares of Live Oak Bancshares during the 4th quarter worth about $27,000. Venturi Wealth Management LLC acquired a new position in Live Oak Bancshares during the 4th quarter worth approximately $71,000. Principal Securities Inc. boosted its holdings in Live Oak Bancshares by 99.7% in the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock worth $119,000 after acquiring an additional 1,498 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in Live Oak Bancshares by 7.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank’s stock valued at $221,000 after acquiring an additional 407 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Live Oak Bancshares by 7.1% during the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock valued at $237,000 after acquiring an additional 400 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Live Oak Bancshares Trading Down 0.2%

Shares of Live Oak Bancshares stock opened at $28.03 on Wednesday. The stock has a fifty day simple moving average of $26.27 and a 200 day simple moving average of $34.79. Live Oak Bancshares, Inc. has a 12-month low of $22.68 and a 12-month high of $50.57. The company has a market capitalization of $1.28 billion, a P/E ratio of 19.33 and a beta of 1.84.

Insiders Place Their Bets

In other Live Oak Bancshares news, Director William Henderson Cameron bought 5,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $25.92 per share, with a total value of $129,600.00. Following the completion of the acquisition, the director now directly owns 11,904 shares in the company, valued at approximately $308,551.68. The trade was a 72.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 23.40% of the company’s stock.

Analysts Set New Price Targets

LOB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, April 25th. StockNews.com lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Live Oak Bancshares presently has an average rating of “Hold” and a consensus price target of $42.25.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.