D. E. Shaw & Co. Inc. trimmed its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,027 shares of the bank's stock after selling 40,777 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.35% of Live Oak Bancshares worth $6,290,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Barclays PLC raised its stake in Live Oak Bancshares by 130.5% in the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank's stock valued at $3,485,000 after purchasing an additional 41,662 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Live Oak Bancshares by 195.3% during the third quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank's stock worth $3,888,000 after buying an additional 54,286 shares in the last quarter. Park Avenue Securities LLC grew its stake in Live Oak Bancshares by 61.8% during the 4th quarter. Park Avenue Securities LLC now owns 6,990 shares of the bank's stock valued at $276,000 after acquiring an additional 2,670 shares in the last quarter. Inspire Investing LLC raised its holdings in Live Oak Bancshares by 16.7% in the 4th quarter. Inspire Investing LLC now owns 10,124 shares of the bank's stock valued at $400,000 after acquiring an additional 1,452 shares during the last quarter. Finally, abrdn plc raised its holdings in Live Oak Bancshares by 10.0% in the 4th quarter. abrdn plc now owns 336,721 shares of the bank's stock valued at $13,324,000 after acquiring an additional 30,597 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.
Live Oak Bancshares Stock Performance
Shares of Live Oak Bancshares stock traded down $0.01 during trading hours on Thursday, hitting $26.86. The company's stock had a trading volume of 30,904 shares, compared to its average volume of 240,974. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 18.52 and a beta of 1.84. The firm has a fifty day moving average of $26.24 and a 200-day moving average of $34.73. Live Oak Bancshares, Inc. has a twelve month low of $22.68 and a twelve month high of $50.57.
Live Oak Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Tuesday, June 3rd. Live Oak Bancshares's payout ratio is presently 9.23%.
Insider Transactions at Live Oak Bancshares
In other news, Director William Henderson Cameron purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $25.92 per share, for a total transaction of $129,600.00. Following the purchase, the director now directly owns 11,904 shares of the company's stock, valued at $308,551.68. This represents a 72.42% increase in their position. The transaction 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.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on LOB shares. Keefe, Bruyette & Woods reduced their price target on Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $42.25.
Check Out Our Latest Analysis on LOB
About Live Oak Bancshares
(
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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