GAMMA Investing LLC Grows Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

GAMMA Investing LLC raised its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 4,595.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,438 shares of the bank's stock after acquiring an additional 9,237 shares during the period. GAMMA Investing LLC's holdings in Live Oak Bancshares were worth $252,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Rhumbline Advisers increased its stake in Live Oak Bancshares by 1.5% in the 4th quarter. Rhumbline Advisers now owns 50,102 shares of the bank's stock worth $1,982,000 after acquiring an additional 722 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Live Oak Bancshares by 99.7% in the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock valued at $119,000 after purchasing an additional 1,498 shares in the last quarter. Principal Financial Group Inc. increased its position in Live Oak Bancshares by 9.8% in the fourth quarter. Principal Financial Group Inc. now owns 26,139 shares of the bank's stock worth $1,034,000 after purchasing an additional 2,340 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Live Oak Bancshares by 13.1% during the fourth quarter. Sanctuary Advisors LLC now owns 8,975 shares of the bank's stock valued at $355,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Truist Financial Corp raised its stake in Live Oak Bancshares by 65.5% during the fourth quarter. Truist Financial Corp now owns 16,310 shares of the bank's stock valued at $645,000 after purchasing an additional 6,457 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Stock Down 0.6%

LOB traded down $0.17 during trading on Wednesday, reaching $29.26. The company had a trading volume of 281,242 shares, compared to its average volume of 247,605. The business has a 50 day simple moving average of $27.24 and a 200-day simple moving average of $31.47. The stock has a market cap of $1.33 billion, a P/E ratio of 20.18 and a beta of 1.85. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57.

Live Oak Bancshares Announces Dividend

The company 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. The ex-dividend date was Tuesday, June 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. Live Oak Bancshares's dividend payout ratio is presently 9.23%.

Insider Buying and Selling

In other Live Oak Bancshares news, Director William Henderson Cameron purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $25.92 per share, with a total value of $129,600.00. Following the purchase, the director now owns 11,904 shares of the company's stock, valued at approximately $308,551.68. The trade was a 72.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LOB has been the subject of a number of recent research reports. Wall Street Zen cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. Keefe, Bruyette & Woods lowered their price target on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $42.25.

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.