one8zero8 LLC Boosts Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Key Points

• one8zero8 LLC increased its stake in Live Oak Bancshares by 11.0%, now owning approximately 75,476 shares valued at over $2 million following a purchase of additional shares in Q1 2023.
• Live Oak Bancshares recently announced a quarterly dividend of $0.03 per share, which translates to an annualized dividend yield of 0.35%.
• Wall Street analysts from Keefe, Bruyette & Woods raised their price target for Live Oak Bancshares from $36.00 to $37.00, maintaining a "market perform" rating.

one8zero8 LLC raised its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,476 shares of the bank's stock after buying an additional 7,475 shares during the period. one8zero8 LLC owned about 0.17% of Live Oak Bancshares worth $2,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LOB. KLP Kapitalforvaltning AS acquired a new position in Live Oak Bancshares in the fourth quarter valued at approximately $265,000. LPL Financial LLC raised its holdings in Live Oak Bancshares by 7.9% during the fourth quarter. LPL Financial LLC now owns 10,326 shares of the bank's stock worth $408,000 after buying an additional 757 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Live Oak Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank's stock valued at $104,066,000 after buying an additional 10,213 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Live Oak Bancshares by 54.4% during the fourth quarter. JPMorgan Chase & Co. now owns 126,743 shares of the bank's stock valued at $5,013,000 after buying an additional 44,666 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Live Oak Bancshares by 6.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 234,818 shares of the bank's stock worth $9,288,000 after acquiring an additional 13,555 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Insider Buying and Selling

In related news, Director William Henderson Cameron bought 5,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $25.92 per share, with a total value of $129,600.00. Following the transaction, the director directly owned 11,904 shares of the company's stock, valued at approximately $308,551.68. The trade was a 72.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.40% of the company's stock.

Live Oak Bancshares Trading Down 0.6%

Live Oak Bancshares stock traded down $0.20 during trading on Wednesday, hitting $32.85. 59,718 shares of the company were exchanged, compared to its average volume of 292,466. The business's 50 day moving average is $29.80 and its 200 day moving average is $29.94. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The company has a market capitalization of $1.50 billion, a P/E ratio of 22.59 and a beta of 1.84.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.37%. The ex-dividend date was Tuesday, June 3rd. Live Oak Bancshares's dividend payout ratio is 9.84%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $37.00 target price (up previously from $36.00) on shares of Live Oak Bancshares in a report on Friday, July 25th.

About Live Oak Bancshares

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.