Bank of New York Mellon Corp Has $4.40 Million Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Key Points

• Bank of New York Mellon Corp reduced its stake in Live Oak Bancshares by 4.4%, holding 165,208 shares valued at approximately $4.4 million after selling 7,688 shares.
• Live Oak Bancshares recently announced a quarterly dividend of $0.03 per share, representing an annualized yield of 0.35%.
• Analysts have mixed ratings for Live Oak Bancshares, with Keefe, Bruyette & Woods setting a price target of $37.00, while Wall Street Zen downgraded the stock from "hold" to "sell."

Bank of New York Mellon Corp reduced its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,208 shares of the bank's stock after selling 7,688 shares during the period. Bank of New York Mellon Corp owned approximately 0.36% of Live Oak Bancshares worth $4,404,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Thoroughbred Financial Services LLC raised its holdings in shares of Live Oak Bancshares by 7.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank's stock worth $221,000 after acquiring an additional 407 shares during the period. KLP Kapitalforvaltning AS bought a new position in Live Oak Bancshares in the fourth quarter valued at $265,000. Howe & Rusling Inc. grew its position in Live Oak Bancshares by 8.3% in the fourth quarter. Howe & Rusling Inc. now owns 8,513 shares of the bank's stock valued at $337,000 after purchasing an additional 655 shares in the last quarter. Benjamin Edwards Inc. grew its position in Live Oak Bancshares by 10.4% in the fourth quarter. Benjamin Edwards Inc. now owns 8,516 shares of the bank's stock valued at $337,000 after purchasing an additional 799 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Live Oak Bancshares in the fourth quarter valued at $346,000. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $37.00 target price (up previously from $36.00) on shares of Live Oak Bancshares in a research report on Friday.

Live Oak Bancshares Trading Down 0.9%

Shares of LOB traded down $0.32 during midday trading on Tuesday, reaching $33.70. The stock had a trading volume of 12,193 shares, compared to its average volume of 292,556. The firm has a 50 day simple moving average of $29.80 and a 200-day simple moving average of $29.94. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57. The firm has a market cap of $1.54 billion, a PE ratio of 23.24 and a beta of 1.84.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders 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 0.36%. The ex-dividend date of this dividend was Tuesday, June 3rd. Live Oak Bancshares's dividend payout ratio (DPR) is presently 9.84%.

Insider Activity at Live Oak Bancshares

In related news, Director William Henderson Cameron bought 5,000 shares of Live Oak Bancshares 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 acquisition, the director owned 11,904 shares of the company's stock, valued at approximately $308,551.68. This represents a 72.42% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.40% of the stock is currently owned by company insiders.

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.