Rice Hall James & Associates LLC Raises Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Rice Hall James & Associates LLC lifted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 20.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 155,471 shares of the bank's stock after purchasing an additional 26,085 shares during the quarter. Rice Hall James & Associates LLC owned about 0.34% of Live Oak Bancshares worth $4,145,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LOB. Picton Mahoney Asset Management purchased a new stake in Live Oak Bancshares during the fourth quarter worth $27,000. Thoroughbred Financial Services LLC raised its stake in shares of Live Oak Bancshares by 7.8% during 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 during the last quarter. GAMMA Investing LLC boosted its position in shares of Live Oak Bancshares by 4,595.5% in the 1st quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock worth $252,000 after buying an additional 9,237 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Live Oak Bancshares in the 4th quarter valued at about $265,000. Finally, Howe & Rusling Inc. grew its stake in Live Oak Bancshares by 8.3% in the 4th quarter. Howe & Rusling Inc. now owns 8,513 shares of the bank's stock valued at $337,000 after acquiring an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on LOB shares. Wall Street Zen cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods lifted their price objective on Live Oak Bancshares from $34.00 to $36.00 and gave the stock a "market perform" rating in a research report on Friday.

Live Oak Bancshares Trading Down 0.7%

Shares of LOB stock opened at $32.32 on Monday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 22.29 and a beta of 1.84. The firm has a 50-day moving average price of $28.73 and a 200 day moving average price of $30.44. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $50.57.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Tuesday, June 3rd. Live Oak Bancshares's payout ratio is 9.23%.

Insider Transactions at Live Oak Bancshares

In other news, Director William Henderson Cameron bought 5,000 shares of the stock in a transaction on 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 purchase, the director 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 purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 23.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.