Envestnet Asset Management Inc. Purchases 48,699 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Envestnet Asset Management Inc. lifted its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 64.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,687 shares of the bank's stock after purchasing an additional 48,699 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of Live Oak Bancshares worth $4,931,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in Live Oak Bancshares by 59.5% during the 3rd quarter. Stifel Financial Corp now owns 19,720 shares of the bank's stock valued at $934,000 after buying an additional 7,357 shares in the last quarter. Barclays PLC boosted its holdings in shares of Live Oak Bancshares by 130.5% in the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank's stock worth $3,485,000 after purchasing an additional 41,662 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock worth $36,658,000 after purchasing an additional 13,824 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Live Oak Bancshares in the 3rd quarter worth approximately $379,000. Finally, Synovus Financial Corp purchased a new position in shares of Live Oak Bancshares in the 3rd quarter worth approximately $261,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Live Oak Bancshares Trading Up 2.1 %

Shares of LOB stock traded up $0.56 on Monday, reaching $27.15. 434,119 shares of the company's stock were exchanged, compared to its average volume of 231,489. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The stock has a market capitalization of $1.24 billion, a PE ratio of 18.72 and a beta of 1.75. The company's fifty day simple moving average is $27.23 and its 200 day simple moving average is $36.65.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, February 25th. Live Oak Bancshares's dividend payout ratio (DPR) is presently 9.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LOB shares. Keefe, Bruyette & Woods dropped their target price on Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Friday. StockNews.com cut Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $42.25.

Live Oak Bancshares Company 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.