Southernsun Asset Management LLC Grows Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Southernsun Asset Management LLC grew its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 796,720 shares of the bank's stock after buying an additional 74,193 shares during the quarter. Live Oak Bancshares accounts for 3.9% of Southernsun Asset Management LLC's portfolio, making the stock its 15th largest position. Southernsun Asset Management LLC owned about 1.76% of Live Oak Bancshares worth $31,510,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LOB. Invesco Ltd. boosted its stake in shares of Live Oak Bancshares by 0.6% in the 4th quarter. Invesco Ltd. now owns 50,720 shares of the bank's stock worth $2,006,000 after buying an additional 298 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Live Oak Bancshares by 3.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank's stock valued at $411,000 after acquiring an additional 356 shares during the last quarter. Handelsbanken Fonder AB increased its position in Live Oak Bancshares by 7.1% during the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock valued at $237,000 after acquiring an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in Live Oak Bancshares by 7.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank's stock valued at $221,000 after acquiring an additional 407 shares during the last quarter. Finally, First Hawaiian Bank increased its position in Live Oak Bancshares by 3.6% during the fourth quarter. First Hawaiian Bank now owns 16,002 shares of the bank's stock valued at $633,000 after acquiring an additional 551 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Stock Up 0.9 %

LOB traded up $0.23 during midday trading on Friday, reaching $26.64. The company had a trading volume of 530,659 shares, compared to its average volume of 230,675. The business has a 50-day moving average of $27.35 and a two-hundred day moving average of $36.79. The company has a market cap of $1.21 billion, a P/E ratio of 18.37 and a beta of 1.75. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57.

Live Oak Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LOB shares. StockNews.com cut Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced their price objective on Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research report on Friday. One 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $42.25.

Live Oak Bancshares 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.