Raymond James Financial Inc. Buys Shares of 133,415 Live Oak Bancshares, Inc. (NASDAQ:LOB)

Raymond James Financial Inc. acquired a new position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 133,415 shares of the bank's stock, valued at approximately $5,277,000. Raymond James Financial Inc. owned approximately 0.30% of Live Oak Bancshares at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Live Oak Bancshares during the fourth quarter valued at approximately $4,056,000. one8zero8 LLC acquired a new position in shares of Live Oak Bancshares during the 4th quarter valued at $2,689,000. JPMorgan Chase & Co. raised its stake in shares of Live Oak Bancshares by 195.3% in the 3rd 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. Envestnet Asset Management Inc. lifted its holdings in shares of Live Oak Bancshares by 64.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 124,687 shares of the bank's stock valued at $4,931,000 after buying an additional 48,699 shares during the period. Finally, Barclays PLC boosted its stake in Live Oak Bancshares by 130.5% during the third quarter. Barclays PLC now owns 73,577 shares of the bank's stock valued at $3,485,000 after buying an additional 41,662 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Friday, April 25th. StockNews.com cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $42.25.

Live Oak Bancshares Trading Up 1.6 %

Shares of LOB traded up $0.42 during midday trading on Thursday, hitting $26.56. The stock had a trading volume of 27,214 shares, compared to its average volume of 232,235. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57. The business has a 50-day simple moving average of $26.99 and a two-hundred day simple moving average of $36.51. The firm has a market cap of $1.21 billion, a P/E ratio of 18.33 and a beta of 1.75.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.45%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares's payout ratio is 9.23%.

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.