T. Rowe Price Investment Management Inc. lifted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,484,524 shares of the bank's stock after buying an additional 65,038 shares during the quarter. T. Rowe Price Investment Management Inc. owned 14.23% of Live Oak Bancshares worth $172,878,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. 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 purchasing an additional 757 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Live Oak Bancshares by 14.1% during the 4th quarter. Wells Fargo & Company MN now owns 69,939 shares of the bank's stock worth $2,766,000 after buying an additional 8,649 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Live Oak Bancshares by 64.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 124,687 shares of the bank's stock worth $4,931,000 after buying an additional 48,699 shares during the last quarter. Invesco Ltd. boosted its position in shares of Live Oak Bancshares by 0.6% in the 4th quarter. Invesco Ltd. now owns 50,720 shares of the bank's stock worth $2,006,000 after buying an additional 298 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Live Oak Bancshares by 5.9% in the 4th quarter. Legal & General Group Plc now owns 38,627 shares of the bank's stock valued at $1,543,000 after acquiring an additional 2,164 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods upgraded shares of Live Oak Bancshares from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $37.00 to $43.00 in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.33.
Get Our Latest Analysis on LOB
Live Oak Bancshares Stock Up 1.7%
Shares of LOB stock traded up $0.64 during trading hours on Tuesday, hitting $38.34. 32,425 shares of the company were exchanged, compared to its average volume of 290,133. The firm has a market cap of $1.75 billion, a PE ratio of 26.41 and a beta of 1.82. The firm has a fifty day moving average of $32.00 and a 200 day moving average of $29.39. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57.
Live Oak Bancshares Dividend Announcement
The company also recently disclosed a sep 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.03 dividend. This represents a dividend yield of 30.0%. The ex-dividend date is Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio (DPR) is 9.84%.
Live Oak Bancshares Company Profile
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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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