Diamond Hill Capital Management Inc. Has $48.41 Million Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Diamond Hill Capital Management Inc. decreased its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 25.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,224,126 shares of the bank's stock after selling 415,117 shares during the period. Diamond Hill Capital Management Inc. owned 2.71% of Live Oak Bancshares worth $48,414,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LOB. 49 Wealth Management LLC grew its holdings in Live Oak Bancshares by 2.1% during the third quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank's stock worth $484,000 after purchasing an additional 212 shares during the period. Quarry LP grew its holdings in Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank's stock worth $34,000 after purchasing an additional 354 shares during the period. Central Pacific Bank Trust Division grew its holdings 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 worth $411,000 after purchasing an additional 356 shares during the period. Handelsbanken Fonder AB grew its holdings in Live Oak Bancshares by 7.1% during the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock worth $237,000 after purchasing an additional 400 shares during the period. Finally, First Hawaiian Bank grew its holdings in Live Oak Bancshares by 3.6% during the fourth quarter. First Hawaiian Bank now owns 16,002 shares of the bank's stock worth $633,000 after purchasing an additional 551 shares during the period. Institutional investors own 63.95% of the company's stock.

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Live Oak Bancshares Trading Down 0.2 %

LOB stock traded down $0.07 during mid-day trading on Tuesday, hitting $28.30. 240,386 shares of the company were exchanged, compared to its average volume of 184,381. The business has a 50 day simple moving average of $34.30 and a 200-day simple moving average of $41.08. The stock has a market capitalization of $1.28 billion, a PE ratio of 19.52 and a beta of 1.69. Live Oak Bancshares, Inc. has a 1-year low of $27.57 and a 1-year high of $50.57.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. Live Oak Bancshares's payout ratio is 8.28%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $44.00 price target (down previously from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th.

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.