30,637 Shares in Live Oak Bancshares, Inc. $LOB Acquired by Jump Financial LLC

Key Points

• Jump Financial LLC acquired a new stake in Live Oak Bancshares, purchasing 30,637 shares valued at approximately $817,000 during the first quarter.
• Live Oak Bancshares recently announced a dividend of $0.03 per share, scheduled for payment to stockholders of record, offering a yield of 30.0%.
• Following a rating upgrade by Keefe, Bruyette & Woods, the stock received a new price target of $43.00 from an earlier $37.00.

Jump Financial LLC purchased a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 30,637 shares of the bank's stock, valued at approximately $817,000. Jump Financial LLC owned 0.07% of Live Oak Bancshares at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of LOB. Nuveen LLC purchased a new position in Live Oak Bancshares in the first quarter worth $8,116,000. Citigroup Inc. grew its stake in shares of Live Oak Bancshares by 428.2% during the 1st quarter. Citigroup Inc. now owns 295,250 shares of the bank's stock worth $7,871,000 after purchasing an additional 239,356 shares during the period. Motley Fool Wealth Management LLC grew its stake in shares of Live Oak Bancshares by 80.5% during the 1st quarter. Motley Fool Wealth Management LLC now owns 263,859 shares of the bank's stock worth $7,034,000 after purchasing an additional 117,674 shares during the period. AmeriServ Wealth Advisors purchased a new position in shares of Live Oak Bancshares in the 4th quarter valued at about $4,443,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Live Oak Bancshares in the fourth quarter valued at about $2,931,000. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded shares of Live Oak Bancshares from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $37.00 to $43.00 in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.33.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock traded up $0.81 during mid-day trading on Thursday, hitting $38.35. 111,961 shares of the company were exchanged, compared to its average volume of 290,155. Live Oak Bancshares, Inc. has a 12-month low of $22.68 and a 12-month high of $50.57. The company has a market capitalization of $1.75 billion, a P/E ratio of 26.45 and a beta of 1.75. The business's 50 day simple moving average is $33.38 and its two-hundred day simple moving average is $29.63.

Live Oak Bancshares Dividend Announcement

The company also recently announced a sep 25 dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a yield of 32.0%. Live Oak Bancshares's payout ratio is presently 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.