Nuveen LLC Acquires Shares of 304,420 Live Oak Bancshares, Inc. $LOB

Key Points

• Nuveen LLC has invested approximately $8.12 million in Live Oak Bancshares, acquiring 304,420 shares, representing 0.67% of the company's stock.
• Live Oak Bancshares' stock has been upgraded to an "outperform" rating by Keefe, Bruyette & Woods, with a new target price of $43.00.
• The company has announced a $0.03 dividend to be paid on September 15th, representing a significant dividend yield of 30.0%.

Nuveen LLC bought a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 304,420 shares of the bank's stock, valued at approximately $8,116,000. Nuveen LLC owned about 0.67% of Live Oak Bancshares at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LOB. GAMMA Investing LLC increased 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 valued at $252,000 after purchasing an additional 9,237 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Live Oak Bancshares by 29.6% during the 1st quarter. Benjamin Edwards Inc. now owns 11,038 shares of the bank's stock worth $294,000 after acquiring an additional 2,522 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Live Oak Bancshares by 17.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,860 shares of the bank's stock worth $316,000 after acquiring an additional 1,740 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Live Oak Bancshares during the 4th quarter worth $346,000. Finally, ProShare Advisors LLC grew its stake in shares of Live Oak Bancshares by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 9,766 shares of the bank's stock worth $386,000 after acquiring an additional 3,214 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Trading Down 0.0%

LOB stock traded down $0.00 during midday trading on Friday, hitting $38.72. The company had a trading volume of 226,389 shares, compared to its average volume of 291,653. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The stock's 50 day moving average price is $32.86 and its 200 day moving average price is $29.56. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 26.70 and a beta of 1.82.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.03 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a yield of 30.0%. Live Oak Bancshares's payout ratio is presently 9.84%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $37.00 to $43.00 in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.33.

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.