Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 64.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,687 shares of the bank's stock after acquiring an additional 48,699 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Live Oak Bancshares worth $4,931,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LOB. Picton Mahoney Asset Management acquired a new stake in Live Oak Bancshares in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC acquired a new position in Live Oak Bancshares in the 4th quarter worth $71,000. Principal Securities Inc. boosted its position in Live Oak Bancshares by 99.7% in the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock valued at $119,000 after buying an additional 1,498 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position 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 buying an additional 407 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 63.95% of the company's stock.

Analyst Upgrades and Downgrades

LOB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Friday. StockNews.com lowered Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Live Oak Bancshares has an average rating of "Hold" and a consensus price target of $42.25.

Live Oak Bancshares Price Performance

NASDAQ:LOB traded up $0.23 during mid-day trading 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 capitalization of $1.21 billion, a price-to-earnings 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. The stock's 50 day simple moving average is $27.35 and its two-hundred day simple moving average is $36.92.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued 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 0.45%. Live Oak Bancshares's dividend payout ratio (DPR) is 8.28%.

Live Oak Bancshares Company 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.