E. Ohman J or Asset Management AB Acquires 40,343 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

E. Ohman J or Asset Management AB raised its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 81.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,969 shares of the bank's stock after buying an additional 40,343 shares during the quarter. E. Ohman J or Asset Management AB owned about 0.20% of Live Oak Bancshares worth $2,399,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LOB. Picton Mahoney Asset Management acquired a new position in shares of Live Oak Bancshares during the 4th quarter worth about $27,000. Venturi Wealth Management LLC acquired a new position in Live Oak Bancshares during the fourth quarter worth $71,000. Principal Securities Inc. increased its holdings in Live Oak Bancshares by 99.7% during the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock worth $119,000 after buying an additional 1,498 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in Live Oak Bancshares by 7.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank's stock worth $221,000 after buying an additional 407 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Live Oak Bancshares by 7.1% during the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock worth $237,000 after buying an additional 400 shares during the last quarter. Institutional investors own 63.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LOB. Keefe, Bruyette & Woods lowered their target price on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. Wall Street Zen downgraded shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $42.25.

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 shares were bought at an average cost of $25.92 per share, for a total transaction of $129,600.00. Following the purchase, the director now owns 11,904 shares in the company, valued at approximately $308,551.68. This trade represents a 72.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.40% of the stock is currently owned by corporate insiders.

Live Oak Bancshares Stock Performance

Shares of LOB stock traded up $0.78 on Tuesday, hitting $29.34. The company's stock had a trading volume of 251,016 shares, compared to its average volume of 245,469. The stock's 50 day moving average is $26.36 and its 200-day moving average is $32.79. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57. The company has a market capitalization of $1.34 billion, a PE ratio of 20.24 and a beta of 1.85.

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 paid a $0.03 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. Live Oak Bancshares's payout ratio is currently 9.23%.

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.