Envestnet Asset Management Inc. lifted its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 16.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 145,117 shares of the bank's stock after purchasing 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 filing with the SEC.
Other institutional investors have also modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in Live Oak Bancshares in the 4th quarter worth approximately $265,000. LPL Financial LLC boosted its holdings in Live Oak Bancshares by 7.9% in the 4th quarter. LPL Financial LLC now owns 10,326 shares of the bank's stock worth $408,000 after acquiring an additional 757 shares during the period. Vanguard Group Inc. boosted its holdings in Live Oak Bancshares by 0.4% in the 4th 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 period. JPMorgan Chase & Co. boosted its holdings 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 boosted 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 worth $9,288,000 after acquiring an additional 13,555 shares during the period. Hedge funds and other institutional investors own 63.95% of the company's stock.
Insider Activity
In other Live Oak Bancshares news, Director William Henderson Cameron bought 5,000 shares of the business's stock in a transaction on 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 transaction, the director directly owned 11,904 shares in the company, valued at approximately $308,551.68. This trade represents a 72.42% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 23.40% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $37.00 price target (up previously from $36.00) on shares of Live Oak Bancshares in a report on Friday.
Check Out Our Latest Report on Live Oak Bancshares
Live Oak Bancshares Stock Up 4.6%
NASDAQ LOB opened at $34.01 on Friday. The stock has a market cap of $1.55 billion, a PE ratio of 23.46 and a beta of 1.84. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57. The business has a 50 day moving average price of $29.68 and a two-hundred day moving average price of $30.02.
Live Oak Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Tuesday, June 3rd. Live Oak Bancshares's payout ratio is 9.84%.
Live Oak Bancshares Company Profile
(
Free Report)
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.
Further Reading
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