First Hawaiian Bank Makes New $542,000 Investment in Live Oak Bancshares, Inc. (NASDAQ:LOB)

First Hawaiian Bank purchased a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,451 shares of the bank’s stock, valued at approximately $542,000.

Several other hedge funds have also modified their holdings of LOB. Cetera Advisors LLC raised its holdings in Live Oak Bancshares by 9.2% in the first quarter. Cetera Advisors LLC now owns 5,906 shares of the bank’s stock valued at $245,000 after buying an additional 500 shares during the period. Motley Fool Asset Management LLC raised its holdings in Live Oak Bancshares by 16.4% in the first quarter. Motley Fool Asset Management LLC now owns 66,150 shares of the bank’s stock valued at $2,746,000 after buying an additional 9,317 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Live Oak Bancshares in the first quarter valued at approximately $1,350,000. Public Employees Retirement System of Ohio purchased a new position in Live Oak Bancshares in the first quarter valued at approximately $129,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Live Oak Bancshares by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,069 shares of the bank’s stock valued at $917,000 after purchasing an additional 1,728 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOB has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Live Oak Bancshares from $38.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 price objective (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. JPMorgan Chase & Co. cut their price target on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Finally, Piper Sandler upped their price target on shares of Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and a consensus price target of $47.25.

Insider Buying and Selling

In other Live Oak Bancshares news, Director Tonya Williams Bradford sold 2,600 shares of Live Oak Bancshares stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total transaction of $93,522.00. Following the completion of the transaction, the director now directly owns 5,870 shares of the company’s stock, valued at $211,143.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.90% of the stock is owned by company insiders.

Live Oak Bancshares Price Performance

NASDAQ:LOB traded down $1.19 during mid-day trading on Monday, reaching $39.92. The stock had a trading volume of 295,788 shares, compared to its average volume of 183,579. The business’s 50 day moving average is $36.43 and its 200 day moving average is $37.59. Live Oak Bancshares, Inc. has a fifty-two week low of $26.11 and a fifty-two week high of $47.22. The stock has a market cap of $1.80 billion, a P/E ratio of 20.02 and a beta of 1.62.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.13. Live Oak Bancshares had a return on equity of 11.13% and a net margin of 11.22%. The company had revenue of $232.61 million during the quarter, compared to analysts’ expectations of $123.08 million. During the same period in the prior year, the business earned $0.39 earnings per share. Equities analysts expect that Live Oak Bancshares, Inc. will post 2.32 EPS for the current year.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.12 annualized dividend and a yield of 0.30%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 6.03%.

Live Oak Bancshares Profile

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.