Millennium Management LLC Reduces Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Millennium Management LLC reduced its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 58.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 91,044 shares of the bank's stock after selling 127,687 shares during the period. Millennium Management LLC owned approximately 0.20% of Live Oak Bancshares worth $3,601,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LOB. Capital International Investors increased its holdings in shares of Live Oak Bancshares by 75.8% during the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock valued at $80,749,000 after purchasing an additional 880,530 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Live Oak Bancshares during the 4th quarter valued at about $5,277,000. AmeriServ Wealth Advisors purchased a new position in shares of Live Oak Bancshares in the 4th quarter valued at about $4,443,000. Norges Bank acquired a new position in Live Oak Bancshares in the 4th quarter worth about $4,056,000. Finally, Southernsun Asset Management LLC raised its holdings in Live Oak Bancshares by 10.3% in the 4th quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank's stock worth $31,510,000 after purchasing an additional 74,193 shares during the period. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Stock Down 0.6%

Shares of NASDAQ LOB traded down $0.16 during midday trading on Wednesday, hitting $27.55. The stock had a trading volume of 179,351 shares, compared to its average volume of 244,849. The stock has a 50 day simple moving average of $26.20 and a 200-day simple moving average of $33.40. The company has a market capitalization of $1.26 billion, a PE ratio of 19.00 and a beta of 1.84. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57.

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 $0.03 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. Live Oak Bancshares's payout ratio is currently 9.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LOB shares. Keefe, Bruyette & Woods dropped 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 research note on Friday, April 25th. Wall Street Zen lowered shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $42.25.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron acquired 5,000 shares of the company's stock in a transaction that occurred 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 purchase, the director now owns 11,904 shares in the company, valued at approximately $308,551.68. The trade was a 72.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.40% of the stock is currently owned by 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.