Salem Investment Counselors Inc. reduced its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 28.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,730 shares of the bank's stock after selling 18,995 shares during the quarter. Salem Investment Counselors Inc. owned 0.10% of Live Oak Bancshares worth $1,272,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. E. Ohman J or Asset Management AB raised its position in Live Oak Bancshares by 81.3% during the first quarter. E. Ohman J or Asset Management AB now owns 89,969 shares of the bank's stock worth $2,399,000 after acquiring an additional 40,343 shares during the period. Chatham Capital Group Inc. increased its stake in shares of Live Oak Bancshares by 4.6% during the first quarter. Chatham Capital Group Inc. now owns 57,253 shares of the bank's stock worth $1,526,000 after purchasing an additional 2,535 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Live Oak Bancshares by 4,595.5% during the 1st 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. California State Teachers Retirement System raised its position in shares of Live Oak Bancshares by 5.0% during the 4th quarter. California State Teachers Retirement System now owns 33,580 shares of the bank's stock worth $1,328,000 after purchasing an additional 1,601 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Live Oak Bancshares by 1.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,152 shares of the bank's stock valued at $3,486,000 after buying an additional 1,322 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.
Live Oak Bancshares Price Performance
Shares of NASDAQ:LOB traded down $0.50 during midday trading on Tuesday, hitting $27.53. The company had a trading volume of 159,470 shares, compared to its average volume of 245,944. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $50.57. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 18.99 and a beta of 1.85. The business's 50-day simple moving average is $26.79 and its 200-day simple moving average is $32.09.
Live Oak Bancshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.12 annualized dividend and a yield of 0.44%. Live Oak Bancshares's payout ratio is 9.23%.
Insider Buying and Selling
In related news, Director William Henderson Cameron bought 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $25.92 per share, with a total value of $129,600.00. Following the completion of the purchase, the director now directly owns 11,904 shares in the company, valued at $308,551.68. This represents a 72.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.40% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods reduced their target price on 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. Wall Street Zen downgraded Live Oak Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Live Oak Bancshares has a consensus rating of "Hold" and an average price target of $42.25.
View Our Latest 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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