Barrow Hanley Mewhinney & Strauss LLC Reduces Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Barrow Hanley Mewhinney & Strauss LLC decreased its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,540,228 shares of the bank's stock after selling 11,753 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 3.41% of Live Oak Bancshares worth $60,916,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Live Oak Bancshares during the fourth quarter worth about $5,277,000. Barclays PLC lifted its position in Live Oak Bancshares by 130.5% in the third quarter. Barclays PLC now owns 73,577 shares of the bank's stock valued at $3,485,000 after purchasing an additional 41,662 shares during the period. Victory Capital Management Inc. lifted its position in Live Oak Bancshares by 44.3% in the fourth quarter. Victory Capital Management Inc. now owns 46,527 shares of the bank's stock valued at $1,840,000 after purchasing an additional 14,293 shares during the period. Principal Financial Group Inc. lifted its position in Live Oak Bancshares by 9.8% in the fourth quarter. Principal Financial Group Inc. now owns 26,139 shares of the bank's stock valued at $1,034,000 after purchasing an additional 2,340 shares during the period. Finally, Capital International Investors lifted its position in Live Oak Bancshares by 75.8% in the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock valued at $80,749,000 after purchasing an additional 880,530 shares during the period. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock traded up $1.04 during mid-day trading on Tuesday, reaching $27.99. The company had a trading volume of 211,698 shares, compared to its average volume of 243,390. The stock's 50-day simple moving average is $26.17 and its 200-day simple moving average is $34.21. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57. The company has a market capitalization of $1.28 billion, a P/E ratio of 19.30 and a beta of 1.84.

Live Oak Bancshares Dividend Announcement

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

Insider Activity

In related news, Director William Henderson Cameron purchased 5,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $25.92 per share, for a total transaction of $129,600.00. Following the transaction, the director now owns 11,904 shares in the company, valued at approximately $308,551.68. The trade was a 72.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 23.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LOB. Wall Street Zen downgraded shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research report 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 assigned a buy rating to the company's stock. According to data from MarketBeat, Live Oak Bancshares presently has a consensus rating of "Hold" and an average price target of $42.25.

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.