Live Oak Bancshares (LOB) benefits from a stable financial environment

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Investment management firm Diamond Hill Capital has released its “Small Cap Fund” Q3 2023 Investor Letter. You can download a copy of the same here. U.S. stocks fell 3% in the third quarter of 2023, bringing the year-to-date gain as measured by the Russell 3000 index to about 12%. The portfolio lagged the Russell 2000 Index in the third quarter, returning -5.62%, with a year-to-date return of 6.70%. Relative weakness in consumer discretionary stocks, industrial products, and technology stocks impacted results in the quarter. Additionally, you can check out the fund’s top five holdings to learn about the best stocks for 2023.

Diamond Hill Small Cap Fund featured stocks such as Live Oak Bankshares (NYSE:LOB) in its Q3 2023 Investor Letter. Live Oak Bancshares, Inc. (NYSE:LOB), headquartered in Wilmington, North Carolina, is the bank holding company of Live Oak Banking Company, which provides commercial banking products and services. On November 8, 2023, Live Oak Bancshares, Inc. (NYSE: LOB) stock closed at $30.49 per share. Live Oak Bancshares, Inc. (NYSE: LOB)’s 1-month return is his 4.70% and the company’s stock has increased his 0.23% in value over the past 52 weeks. Live Oak Bancshares, Inc. (NYSE:LOB) has a market capitalization of $1.372 billion.

Diamond Hill Small Cap Fund commented on Live Oak Bancshares (NYSE:LOB) in its Q3 2023 investor letter:

“Other top individual contributors in the third quarter included Centrus Energy; Live Oak Bankshares Co., Ltd. (NYSE:LOB) and FTAI Aviation. Regional bank Live Oak Bancshares is benefiting from improved sentiment and a stable financial environment following a stressful first quarter. ”

Customer using ATM in bank lobby.

Live Oak Bancshares, Inc. (NYSE:LOB) isn’t included in our list of 30 most popular stocks among hedge funds. According to our database, 10 hedge fund portfolios held his Live Oak Bancshares, Inc. (NYSE:LOB) at the end of the second quarter, compared to 16 in the previous quarter.

We discussed Live Oak Bancshares, Inc. (NYSE:LOB) in a separate article and shared Diamond Hill Small Cap Fund’s take on the company last quarter. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q3 2023 page.

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Disclosure: None. This article was originally published on Insider Monkey.



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