Homestead Advisers Corp cut its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 72.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,100 shares of the bank's stock after selling 88,900 shares during the quarter. Homestead Advisers Corp owned about 0.07% of Live Oak Bancshares worth $909,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Thoroughbred Financial Services LLC lifted its position 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 purchasing an additional 407 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Live Oak Bancshares by 4,595.5% during 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 last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Live Oak Bancshares during the fourth quarter worth $265,000. Howe & Rusling Inc. lifted its position in shares of Live Oak Bancshares by 8.3% during the fourth quarter. Howe & Rusling Inc. now owns 8,513 shares of the bank's stock worth $337,000 after purchasing an additional 655 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of Live Oak Bancshares by 10.4% during the fourth quarter. Benjamin Edwards Inc. now owns 8,516 shares of the bank's stock worth $337,000 after purchasing an additional 799 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
LOB has been the subject of several research analyst reports. Wall Street Zen downgraded Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $37.00 target price (up from $36.00) on shares of Live Oak Bancshares in a research report on Friday.
Check Out Our Latest Stock Report on LOB
Live Oak Bancshares Trading Up 2.6%
Shares of Live Oak Bancshares stock traded up $0.84 during trading on Friday, hitting $33.37. 113,822 shares of the stock traded hands, compared to its average volume of 293,039. The firm has a market cap of $1.52 billion, a P/E ratio of 23.01 and a beta of 1.84. Live Oak Bancshares, Inc. has a 52-week low of $22.68 and a 52-week high of $50.57. The stock's fifty day simple moving average is $29.57 and its 200 day simple moving average is $30.11.
Live Oak Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.36%. Live Oak Bancshares's dividend payout ratio is currently 9.84%.
Insider Activity at Live Oak Bancshares
In other news, Director William Henderson Cameron purchased 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $25.92 per share, for a total transaction of $129,600.00. Following the completion of the purchase, the director owned 11,904 shares in the company, valued at approximately $308,551.68. This represents a 72.42% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 23.40% of the company's stock.
About Live Oak Bancshares
(
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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