Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. trimmed its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,419,486 shares of the bank's stock after selling 37,303 shares during the period. T. Rowe Price Investment Management Inc. owned about 14.21% of Live Oak Bancshares worth $253,891,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new position in shares of Live Oak Bancshares in the 4th quarter valued at $27,000. Venturi Wealth Management LLC purchased a new stake in Live Oak Bancshares in the 4th quarter valued at approximately $71,000. Principal Securities Inc. boosted its stake in shares of Live Oak Bancshares by 99.7% during the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock worth $119,000 after acquiring an additional 1,498 shares in the last quarter. Synovus Financial Corp acquired a new position in Live Oak Bancshares in the 3rd quarter valued at $261,000. Finally, Thoroughbred Financial Services LLC raised its holdings in Live Oak Bancshares by 7.8% in the 4th 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. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Price Performance

NASDAQ LOB traded down $0.43 during trading hours on Tuesday, hitting $26.61. The company had a trading volume of 186,357 shares, compared to its average volume of 231,351. The firm's 50 day moving average is $27.23 and its 200 day moving average is $36.65. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 18.31 and a beta of 1.75.

Live Oak Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com downgraded Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. Keefe, Bruyette & Woods dropped their price objective on Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.