Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Acquired by Northern Trust Corp

Northern Trust Corp raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 314,325 shares of the bank's stock after purchasing an additional 9,661 shares during the quarter. Northern Trust Corp owned 0.70% of Live Oak Bancshares worth $12,432,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LOB. Capital International Investors boosted its holdings in Live Oak Bancshares by 75.8% in the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock valued at $80,749,000 after purchasing an additional 880,530 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $5,277,000. Norges Bank purchased a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $4,056,000. Southernsun Asset Management LLC boosted its stake in shares of Live Oak Bancshares by 10.3% during the 4th quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank's stock worth $31,510,000 after acquiring an additional 74,193 shares in the last quarter. Finally, one8zero8 LLC purchased a new stake in shares of Live Oak Bancshares during the 4th quarter worth about $2,689,000. 63.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LOB. Keefe, Bruyette & Woods lowered 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 research note on Friday, April 25th. Wall Street Zen lowered shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $42.25.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock traded up $0.08 during midday trading on Thursday, reaching $26.95. The company had a trading volume of 204,273 shares, compared to its average volume of 242,182. The company has a market capitalization of $1.23 billion, a P/E ratio of 18.58 and a beta of 1.84. Live Oak Bancshares, Inc. has a 12-month low of $22.68 and a 12-month high of $50.57. The firm's fifty day simple moving average is $26.21 and its 200-day simple moving average is $34.64.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Tuesday, June 3rd. Live Oak Bancshares's dividend payout ratio is presently 9.23%.

Insider Activity at Live Oak Bancshares

In related news, Director William Henderson Cameron purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $25.92 per share, with a total value of $129,600.00. Following the purchase, the director now owns 11,904 shares of the company's stock, valued at $308,551.68. This represents a 72.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.40% of the stock is currently owned by corporate insiders.

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.