Jane Street Group LLC lowered its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 58.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,805 shares of the bank's stock after selling 20,927 shares during the period. Jane Street Group LLC's holdings in Live Oak Bancshares were worth $586,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Live Oak Bancshares in the 4th quarter valued at $5,277,000. Barclays PLC increased its position in Live Oak Bancshares by 130.5% during the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank's stock worth $3,485,000 after buying an additional 41,662 shares during the period. Victory Capital Management Inc. increased its position in Live Oak Bancshares by 44.3% during the 4th quarter. Victory Capital Management Inc. now owns 46,527 shares of the bank's stock worth $1,840,000 after buying an additional 14,293 shares during the period. Principal Financial Group Inc. increased its position in Live Oak Bancshares by 9.8% during the 4th quarter. Principal Financial Group Inc. now owns 26,139 shares of the bank's stock worth $1,034,000 after buying an additional 2,340 shares during the period. Finally, Capital International Investors increased its position in Live Oak Bancshares by 75.8% during the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock worth $80,749,000 after buying an additional 880,530 shares during the period. Institutional investors own 63.95% of the company's stock.
Live Oak Bancshares Stock Performance
Shares of LOB traded down $0.38 during mid-day trading on Friday, reaching $27.53. 261,342 shares of the company were exchanged, compared to its average volume of 244,606. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The stock has a market capitalization of $1.26 billion, a PE ratio of 18.98 and a beta of 1.84. The business has a 50 day simple moving average of $26.18 and a two-hundred day simple moving average of $33.63.
Live Oak Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, June 3rd. Live Oak Bancshares's dividend payout ratio is 9.23%.
Insider Transactions at Live Oak Bancshares
In other Live Oak Bancshares news, Director William Henderson Cameron acquired 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $25.92 per share, with a total value of $129,600.00. Following the completion of the transaction, the director now owns 11,904 shares in the company, valued at approximately $308,551.68. This trade represents a 72.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 23.40% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on 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. Wall Street Zen lowered Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $42.25.
Check Out Our Latest Stock Analysis on LOB
Live Oak Bancshares Company 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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