Wealth Enhancement Advisory Services LLC Sells 16,360 Shares of Live Oak Bancshares, Inc. $LOB

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in Live Oak Bancshares by 42.2%, selling 16,360 shares during the second quarter.
• Live Oak Bancshares announced a $0.03 dividend with a yield of 32.0%, paid to investors of record on September 2nd.
• Research analysts have raised the stock's target prices, with a consensus rating of "Moderate Buy" and a price target of $45.00.

Wealth Enhancement Advisory Services LLC lessened its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 42.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,442 shares of the bank's stock after selling 16,360 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Live Oak Bancshares were worth $724,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Live Oak Bancshares by 4,595.5% in the first quarter. GAMMA Investing LLC now owns 9,438 shares of the bank's stock worth $252,000 after purchasing an additional 9,237 shares during the last quarter. Jump Financial LLC purchased a new position in Live Oak Bancshares in the first quarter worth $817,000. Rice Hall James & Associates LLC boosted its position in Live Oak Bancshares by 20.2% in the first quarter. Rice Hall James & Associates LLC now owns 155,471 shares of the bank's stock worth $4,145,000 after purchasing an additional 26,085 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Live Oak Bancshares by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 145,117 shares of the bank's stock worth $3,869,000 after purchasing an additional 20,430 shares during the last quarter. Finally, CenterBook Partners LP boosted its position in Live Oak Bancshares by 49.2% in the first quarter. CenterBook Partners LP now owns 173,565 shares of the bank's stock worth $4,627,000 after purchasing an additional 57,217 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Stock Performance

Shares of Live Oak Bancshares stock opened at $34.71 on Friday. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.30. The stock's fifty day moving average is $35.40 and its 200 day moving average is $30.53. The stock has a market cap of $1.59 billion, a P/E ratio of 23.94 and a beta of 1.81.

Live Oak Bancshares Announces Dividend

The business also recently announced a sep 25 dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.03 dividend. This represents a yield of 32.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio (DPR) is currently 9.84%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LOB shares. Keefe, Bruyette & Woods raised Live Oak Bancshares from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $37.00 to $43.00 in a research report on Tuesday, August 19th. Cantor Fitzgerald began coverage on Live Oak Bancshares in a research note on Wednesday, September 10th. They issued a "neutral" rating and a $42.00 target price on the stock. Cowen began coverage on Live Oak Bancshares in a research note on Wednesday, September 24th. They issued a "buy" rating on the stock. Finally, National Bankshares set a $50.00 target price on Live Oak Bancshares in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

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.

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