Voloridge Investment Management LLC decreased its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,222 shares of the bank's stock after selling 18,945 shares during the quarter. Voloridge Investment Management LLC owned 0.21% of Live Oak Bancshares worth $3,726,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Picton Mahoney Asset Management purchased a new stake in Live Oak Bancshares in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC purchased a new stake in Live Oak Bancshares in the 4th quarter worth approximately $71,000. Principal Securities Inc. lifted its position in Live Oak Bancshares by 99.7% in the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock worth $119,000 after buying an additional 1,498 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in Live Oak Bancshares by 7.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank's stock worth $221,000 after buying an additional 407 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Live Oak Bancshares by 7.1% in the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock worth $237,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.
Insider Activity
In related news, Director William Henderson Cameron bought 5,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $25.92 per share, for a total transaction of $129,600.00. Following the completion of the transaction, the director now owns 11,904 shares of the company's stock, valued at approximately $308,551.68. This trade represents a 72.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.40% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods cut their price target on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Live Oak Bancshares has a consensus rating of "Hold" and an average target price of $42.25.
Get Our Latest Research Report on LOB
Live Oak Bancshares Stock Performance
Shares of Live Oak Bancshares stock traded down $0.38 during midday trading on Friday, reaching $27.53. 261,342 shares of the company's stock traded hands, compared to its average volume of 244,003. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The company's 50 day simple moving average is $26.19 and its 200 day simple moving average is $33.98. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 18.98 and a beta of 1.84.
Live Oak Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a $0.03 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.12 annualized dividend and a yield of 0.44%. Live Oak Bancshares's dividend payout ratio is 9.23%.
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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