Live Oak Bancshares, Inc. $LOB Stock Position Increased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Live Oak Bancshares by 1.0%, owning 6,484,524 shares valued at approximately $172.88 million as of the end of Q1.
• The company declared a dividend of $0.03 per share to be paid on September 15th, with a payout ratio of 9.84%.
• Analysts at Keefe, Bruyette & Woods upgraded Live Oak Bancshares from "market perform" to "outperform," raising the target price from $37.00 to $43.00.

T. Rowe Price Investment Management Inc. boosted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 1.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,484,524 shares of the bank's stock after purchasing an additional 65,038 shares during the period. T. Rowe Price Investment Management Inc. owned about 14.23% of Live Oak Bancshares worth $172,878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LOB. LPL Financial LLC boosted its stake in shares of Live Oak Bancshares by 7.9% during the 4th quarter. LPL Financial LLC now owns 10,326 shares of the bank's stock valued at $408,000 after buying an additional 757 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Live Oak Bancshares by 14.1% during the 4th quarter. Wells Fargo & Company MN now owns 69,939 shares of the bank's stock valued at $2,766,000 after acquiring an additional 8,649 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Live Oak Bancshares by 64.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 124,687 shares of the bank's stock worth $4,931,000 after purchasing an additional 48,699 shares during the last quarter. Invesco Ltd. lifted its position in shares of Live Oak Bancshares by 0.6% during the fourth quarter. Invesco Ltd. now owns 50,720 shares of the bank's stock worth $2,006,000 after purchasing an additional 298 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Live Oak Bancshares by 5.9% during the fourth quarter. Legal & General Group Plc now owns 38,627 shares of the bank's stock worth $1,543,000 after purchasing an additional 2,164 shares during the last quarter. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised shares of 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 report on Tuesday. Two 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, Live Oak Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $44.33.

Live Oak Bancshares Trading Up 7.8%

NASDAQ LOB traded up $2.7330 during trading hours on Friday, reaching $37.7630. The company's stock had a trading volume of 550,249 shares, compared to its average volume of 291,918. The business has a 50-day simple moving average of $31.81 and a 200 day simple moving average of $29.42. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The stock has a market cap of $1.73 billion, a PE ratio of 26.04 and a beta of 1.82.

Live Oak Bancshares Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a dividend yield of 30.0%. Live Oak Bancshares's dividend payout ratio (DPR) is 9.84%.

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.