CenterBook Partners LP Lowers Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

CenterBook Partners LP trimmed its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,348 shares of the bank's stock after selling 36,738 shares during the quarter. CenterBook Partners LP owned 0.26% of Live Oak Bancshares worth $4,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LOB. Picton Mahoney Asset Management purchased a new position in Live Oak Bancshares in the 4th quarter worth $27,000. Quarry LP raised its holdings in shares of 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 last quarter. Venturi Wealth Management LLC acquired a new position in Live Oak Bancshares during the fourth quarter valued at $71,000. Principal Securities Inc. lifted its holdings in shares of 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 period. Finally, FMR LLC grew its stake in shares of Live Oak Bancshares by 15.0% during the 3rd quarter. FMR LLC now owns 4,364 shares of the bank's stock worth $207,000 after purchasing an additional 568 shares during the period. 63.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LOB. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $44.00 target price (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. StockNews.com downgraded Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $44.75.

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Live Oak Bancshares Stock Down 1.2 %

Shares of NASDAQ LOB traded down $0.28 during trading on Friday, hitting $23.47. The company had a trading volume of 321,348 shares, compared to its average volume of 221,204. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57. The stock has a fifty day simple moving average of $29.39 and a two-hundred day simple moving average of $38.38. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 16.19 and a beta of 1.75.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.51%. Live Oak Bancshares's dividend payout ratio (DPR) is currently 8.28%.

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.