Envestnet Asset Management Inc. Boosts Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Key Points

• Envestnet Asset Management Inc. increased its stake in Live Oak Bancshares by 16.4%, now owning approximately 0.32% of the bank, valued at $3.87 million.
• Institutional investors collectively hold 63.95% of Live Oak Bancshares' stock, with notable boosts in holdings from firms such as JPMorgan Chase & Co. and Vanguard Group.
• Live Oak Bancshares recently announced a quarterly dividend of $0.03 per share, translating to an annual dividend yield of 0.35% and a low payout ratio of 9.84%.

Envestnet Asset Management Inc. increased its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 16.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 145,117 shares of the bank's stock after buying an additional 20,430 shares during the quarter. Envestnet Asset Management Inc. owned about 0.32% of Live Oak Bancshares worth $3,869,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in Live Oak Bancshares in the 4th quarter valued at approximately $265,000. LPL Financial LLC lifted its stake in shares of Live Oak Bancshares by 7.9% during the fourth quarter. LPL Financial LLC now owns 10,326 shares of the bank's stock valued at $408,000 after buying an additional 757 shares during the period. Vanguard Group Inc. boosted its position in Live Oak Bancshares by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank's stock worth $104,066,000 after acquiring an additional 10,213 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Live Oak Bancshares by 54.4% in the 4th quarter. JPMorgan Chase & Co. now owns 126,743 shares of the bank's stock worth $5,013,000 after acquiring an additional 44,666 shares during the period. Finally, Loomis Sayles & Co. L P raised its holdings in Live Oak Bancshares by 6.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 234,818 shares of the bank's stock valued at $9,288,000 after acquiring an additional 13,555 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Insiders Place Their Bets

In related news, Director William Henderson Cameron bought 5,000 shares of Live Oak Bancshares stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $25.92 per share, with a total value of $129,600.00. Following the acquisition, the director directly owned 11,904 shares of the company's stock, valued at $308,551.68. This represents a 72.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $37.00 price target (up previously from $36.00) on shares of Live Oak Bancshares in a report on Friday, July 25th.

Live Oak Bancshares Price Performance

Shares of NASDAQ:LOB traded down $0.87 during mid-day trading on Wednesday, hitting $32.18. The company had a trading volume of 249,939 shares, compared to its average volume of 293,813. The company has a market capitalization of $1.47 billion, a PE ratio of 22.20 and a beta of 1.84. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57. The firm has a fifty day moving average price of $29.90 and a 200 day moving average price of $29.96.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Tuesday, June 3rd. Live Oak Bancshares's payout ratio is currently 9.84%.

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.