Russell Investments Group Ltd. lowered its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 63.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,841 shares of the bank's stock after selling 69,000 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Live Oak Bancshares worth $1,062,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Live Oak Bancshares by 4,595.5% in the first quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock worth $252,000 after purchasing an additional 9,237 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Live Oak Bancshares by 100.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,802 shares of the bank's stock worth $1,034,000 after purchasing an additional 19,457 shares during the period. Rice Hall James & Associates LLC increased its holdings in shares of Live Oak Bancshares by 20.2% in the first quarter. Rice Hall James & Associates LLC now owns 155,471 shares of the bank's stock worth $4,145,000 after purchasing an additional 26,085 shares during the period. Envestnet Asset Management Inc. increased its stake in Live Oak Bancshares by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 145,117 shares of the bank's stock valued at $3,869,000 after acquiring an additional 20,430 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Live Oak Bancshares by 15.0% in the fourth quarter. Deutsche Bank AG now owns 86,017 shares of the bank's stock valued at $3,402,000 after acquiring an additional 11,248 shares during the last quarter. Institutional investors own 63.95% of the company's stock.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods raised Live Oak Bancshares from a "market perform" rating to an "outperform" rating and increased their target price for the company from $37.00 to $43.00 in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.33.
Read Our Latest Stock Report on LOB
Live Oak Bancshares Stock Down 0.3%
Shares of Live Oak Bancshares stock traded down $0.12 during trading on Wednesday, reaching $37.46. 302,453 shares of the stock were exchanged, compared to its average volume of 291,259. The stock's fifty day moving average is $33.38 and its 200 day moving average is $29.63. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 25.83 and a beta of 1.75. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57.
Live Oak Bancshares Dividend Announcement
The business also recently declared 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. This represents a yield of 32.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio is presently 9.84%.
Live Oak Bancshares Profile
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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.
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