Live Oak Bancshares, Inc. (NASDAQ:LOB) Stock Holdings Boosted by abrdn plc

abrdn plc boosted its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 10.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 336,721 shares of the bank's stock after purchasing an additional 30,597 shares during the quarter. abrdn plc owned about 0.75% of Live Oak Bancshares worth $13,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LOB. Inspire Investing LLC lifted its stake in shares of Live Oak Bancshares by 16.7% during the 4th quarter. Inspire Investing LLC now owns 10,124 shares of the bank's stock worth $400,000 after purchasing an additional 1,452 shares during the period. Park Avenue Securities LLC boosted its stake in Live Oak Bancshares by 61.8% in the 4th quarter. Park Avenue Securities LLC now owns 6,990 shares of the bank's stock worth $276,000 after buying an additional 2,670 shares during the last quarter. First Hawaiian Bank grew its holdings in Live Oak Bancshares by 3.6% in the 4th quarter. First Hawaiian Bank now owns 16,002 shares of the bank's stock valued at $633,000 after buying an additional 551 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Live Oak Bancshares by 3.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank's stock worth $411,000 after buying an additional 356 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position 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 during the period. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total value of $616,812.00. Following the sale, the chief accounting officer now owns 14,015 shares of the company's stock, valued at $686,735. This trade represents a 47.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.90% of the stock is currently owned by corporate insiders.

Live Oak Bancshares Stock Up 2.9 %

LOB stock traded up $1.01 during trading on Tuesday, hitting $36.09. 187,870 shares of the company's stock traded hands, compared to its average volume of 197,799. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 24.89 and a beta of 1.67. Live Oak Bancshares, Inc. has a 52 week low of $31.03 and a 52 week high of $50.57. The stock has a fifty day moving average price of $39.38 and a two-hundred day moving average price of $42.79.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 annualized dividend and a yield of 0.33%. Live Oak Bancshares's dividend payout ratio (DPR) is 8.28%.

Analysts Set New Price Targets

LOB has been the subject of several research analyst reports. Piper Sandler dropped their price target on Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $44.00 price target (down previously from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. Finally, Truist Financial lowered their target price on Live Oak Bancshares from $57.00 to $46.00 and set a "buy" rating for the company in a research note on Monday, October 28th.

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.