BNP Paribas Financial Markets lifted its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,649 shares of the bank's stock after buying an additional 10,595 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.08% of Live Oak Bancshares worth $1,410,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of LOB. Picton Mahoney Asset Management acquired a new position in Live Oak Bancshares during the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC acquired a new position in Live Oak Bancshares during the fourth quarter valued at approximately $71,000. Principal Securities Inc. lifted its position in Live Oak Bancshares by 99.7% during the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock valued at $119,000 after buying an additional 1,498 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position 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 valued at $221,000 after buying an additional 407 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Live Oak Bancshares by 7.1% during the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock valued at $237,000 after buying an additional 400 shares in the last quarter. 63.95% of the stock is currently owned by hedge funds and other institutional investors.
Live Oak Bancshares Stock Down 0.2%
Shares of LOB traded down $0.04 during mid-day trading on Friday, reaching $26.93. 365,486 shares of the stock traded hands, compared to its average volume of 243,517. The stock has a fifty day simple moving average of $26.18 and a 200 day simple moving average of $34.34. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 18.57 and a beta of 1.84. Live Oak Bancshares, Inc. has a 12-month low of $22.68 and a 12-month high of $50.57.
Live Oak Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, June 3rd. Live Oak Bancshares's payout ratio is currently 9.23%.
Insider Transactions at Live Oak Bancshares
In other Live Oak Bancshares news, Director William Henderson Cameron acquired 5,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 11,904 shares in the company, valued at approximately $308,551.68. This represents a 72.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on LOB. Wall Street Zen cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced their price target on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $42.25.
Read Our Latest Stock Analysis on LOB
Live Oak Bancshares 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.
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