AmeriServ Wealth Advisors Invests $4.44 Million in Live Oak Bancshares, Inc. (NASDAQ:LOB)

AmeriServ Wealth Advisors purchased a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 112,344 shares of the bank's stock, valued at approximately $4,443,000. Live Oak Bancshares accounts for about 2.4% of AmeriServ Wealth Advisors' investment portfolio, making the stock its 9th biggest position. AmeriServ Wealth Advisors owned 0.25% of Live Oak Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in LOB. Vanguard Group Inc. raised its position in shares of Live Oak Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank's stock valued at $104,066,000 after acquiring an additional 10,213 shares during the period. Capital International Investors increased its position in shares of Live Oak Bancshares by 75.8% in the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock worth $80,749,000 after purchasing an additional 880,530 shares during the period. Southernsun Asset Management LLC lifted its holdings in shares of Live Oak Bancshares by 10.3% in the fourth quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank's stock worth $31,510,000 after acquiring an additional 74,193 shares during the last quarter. abrdn plc raised its holdings in Live Oak Bancshares by 10.0% in the 4th quarter. abrdn plc now owns 336,721 shares of the bank's stock valued at $13,324,000 after buying an additional 30,597 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Live Oak Bancshares by 3.2% during the fourth quarter. Northern Trust Corp now owns 314,325 shares of the bank's stock worth $12,432,000 after buying an additional 9,661 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on LOB shares. Keefe, Bruyette & Woods lowered their price objective on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. StockNews.com cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $42.25.

Live Oak Bancshares Stock Performance

Shares of LOB traded up $0.79 during mid-day trading on Thursday, reaching $26.60. 170,242 shares of the company's stock traded hands, compared to its average volume of 236,431. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $50.57. The stock has a market capitalization of $1.21 billion, a P/E ratio of 18.34 and a beta of 1.84. The business's 50-day moving average price is $26.45 and its 200-day moving average price is $35.73.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, February 25th. Live Oak Bancshares's dividend payout ratio (DPR) is presently 9.23%.

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.