Bank of America Corp DE Has $2.39 Million Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Bank of America Corp DE trimmed its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 40.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,460 shares of the bank's stock after selling 41,470 shares during the quarter. Bank of America Corp DE owned 0.13% of Live Oak Bancshares worth $2,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOB. Picton Mahoney Asset Management bought a new stake in Live Oak Bancshares in the 4th quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in Live Oak Bancshares in the 4th quarter valued at $71,000. Principal Securities Inc. lifted its position in Live Oak Bancshares by 99.7% in the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock valued at $119,000 after acquiring an additional 1,498 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in Live Oak Bancshares by 7.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank's stock valued at $221,000 after acquiring an additional 407 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Live Oak Bancshares by 7.1% in the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock valued at $237,000 after acquiring an additional 400 shares in the last quarter. 63.95% of the stock is owned by institutional investors.

Live Oak Bancshares Price Performance

LOB stock traded up $0.89 during midday trading on Friday, hitting $28.16. The company's stock had a trading volume of 196,576 shares, compared to its average volume of 245,011. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $50.57. The company's fifty day moving average price is $26.24 and its 200 day moving average price is $33.14. The stock has a market capitalization of $1.28 billion, a P/E ratio of 19.42 and a beta of 1.84.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.12 annualized dividend and a yield of 0.43%. Live Oak Bancshares's payout ratio is currently 9.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods lowered their price target on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $42.25.

Insider Buying and Selling at Live Oak Bancshares

In other news, Director William Henderson Cameron bought 5,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $25.92 per share, with a total value of $129,600.00. Following the acquisition, the director now owns 11,904 shares in the company, valued at $308,551.68. This trade represents a 72.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.40% of the company's stock.

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.