Envestnet Asset Management Inc. Has $4.93 Million Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Envestnet Asset Management Inc. grew its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 64.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,687 shares of the bank's stock after purchasing an additional 48,699 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of Live Oak Bancshares worth $4,931,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Picton Mahoney Asset Management bought a new position in shares of Live Oak Bancshares in the 4th quarter valued at about $27,000. Venturi Wealth Management LLC bought a new position in Live Oak Bancshares during the fourth quarter worth about $71,000. Principal Securities Inc. increased its position in Live Oak Bancshares by 99.7% during the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock worth $119,000 after buying an additional 1,498 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in Live Oak Bancshares by 7.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank's stock valued at $221,000 after buying an additional 407 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Live Oak Bancshares by 7.1% in the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock valued at $237,000 after buying an additional 400 shares during the last quarter. Institutional investors own 63.95% of the company's stock.

Live Oak Bancshares Price Performance

NASDAQ LOB traded up $0.23 on Friday, reaching $26.64. The stock had a trading volume of 530,659 shares, compared to its average volume of 231,179. The company has a market cap of $1.21 billion, a P/E ratio of 18.37 and a beta of 1.75. The firm has a fifty day moving average of $27.35 and a two-hundred day moving average of $36.92. 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 declared 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 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares's dividend payout ratio is 8.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LOB shares. StockNews.com cut Live Oak Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, 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.