Live Oak Bancshares Inc (NASDAQ:LOB) Sees Large Increase in Short Interest

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Live Oak Bancshares Inc (NASDAQ:LOB) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,930,000 shares, a growth of 19.1% from the October 31st total of 2,460,000 shares. Currently, 11.3% of the company’s stock are sold short. Based on an average trading volume of 154,800 shares, the days-to-cover ratio is currently 18.9 days.

Shares of LOB traded up $0.09 during mid-day trading on Wednesday, reaching $18.11. 126,205 shares of the company’s stock were exchanged, compared to its average volume of 122,514. The company has a market cap of $734.25 million, a price-to-earnings ratio of 13.72 and a beta of 1.06. Live Oak Bancshares has a 52-week low of $13.09 and a 52-week high of $20.46. The company has a 50-day simple moving average of $18.34 and a two-hundred day simple moving average of $17.71.

Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, October 23rd. The bank reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.06). The firm had revenue of $56.16 million during the quarter, compared to analysts’ expectations of $50.65 million. Live Oak Bancshares had a return on equity of 4.50% and a net margin of 7.88%. On average, equities research analysts predict that Live Oak Bancshares will post 0.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.66%. Live Oak Bancshares’s payout ratio is 9.09%.

LOB has been the topic of several recent analyst reports. BidaskClub raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. ValuEngine lowered Live Oak Bancshares from a “strong-buy” rating to a “buy” rating in a report on Friday, November 29th. TheStreet downgraded shares of Live Oak Bancshares from a “b” rating to a “c+” rating in a research note on Friday, August 16th. Finally, Zacks Investment Research downgraded shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.67.

Several large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Live Oak Bancshares by 100.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock valued at $32,000 after buying an additional 873 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Live Oak Bancshares by 121.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,496 shares of the bank’s stock valued at $43,000 after buying an additional 1,368 shares during the last quarter. Bank of Montreal Can grew its position in shares of Live Oak Bancshares by 367.1% during the 2nd quarter. Bank of Montreal Can now owns 2,681 shares of the bank’s stock valued at $46,000 after buying an additional 2,107 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in shares of Live Oak Bancshares during the 2nd quarter valued at about $69,000. Finally, Synovus Financial Corp bought a new stake in shares of Live Oak Bancshares during the 3rd quarter valued at about $100,000. Institutional investors and hedge funds own 42.62% of the company’s stock.

About Live Oak Bancshares

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.

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