Mendon Capital Advisors Corp Invests $1.98 Million in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Mendon Capital Advisors Corp acquired a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 50,000 shares of the bank's stock, valued at approximately $1,978,000. Live Oak Bancshares makes up 1.0% of Mendon Capital Advisors Corp's holdings, making the stock its 27th largest position. Mendon Capital Advisors Corp owned 0.11% of Live Oak Bancshares at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LOB. Vanguard Group Inc. raised its holdings in Live Oak Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank's stock valued at $104,066,000 after acquiring an additional 10,213 shares during the last quarter. Capital International Investors lifted its position in Live Oak Bancshares by 75.8% during the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock worth $80,749,000 after buying an additional 880,530 shares in the last quarter. Southernsun Asset Management LLC boosted its stake in Live Oak Bancshares by 10.3% during the fourth quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank's stock worth $31,510,000 after buying an additional 74,193 shares during the last quarter. Geode Capital Management LLC boosted its stake in Live Oak Bancshares by 1.8% during the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock worth $36,658,000 after buying an additional 13,824 shares during the last quarter. Finally, abrdn plc grew 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 buying an additional 30,597 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Trading Up 0.9 %

LOB traded up $0.23 on Friday, hitting $26.64. The company had a trading volume of 530,659 shares, compared to its average volume of 230,675. The company's fifty day moving average price is $27.35 and its 200 day moving average price is $36.85. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57. The firm has a market cap of $1.21 billion, a P/E ratio of 18.37 and a beta of 1.75.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. Live Oak Bancshares's dividend payout ratio is currently 8.28%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LOB shares. StockNews.com lowered Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. Keefe, Bruyette & Woods decreased their target price on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $42.25.

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.