Mendon Capital Advisors Corp Invests $1.98 Million in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Mendon Capital Advisors Corp purchased a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 50,000 shares of the bank's stock, valued at approximately $1,978,000. Live Oak Bancshares accounts for 1.0% of Mendon Capital Advisors Corp's holdings, making the stock its 27th biggest position. Mendon Capital Advisors Corp owned approximately 0.11% of Live Oak Bancshares at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Live Oak Bancshares by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock worth $36,658,000 after purchasing an additional 13,824 shares during the period. JPMorgan Chase & Co. grew its stake in Live Oak Bancshares by 195.3% during the third 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. Barclays PLC increased its position in shares of Live Oak Bancshares by 130.5% in the third quarter. Barclays PLC now owns 73,577 shares of the bank's stock worth $3,485,000 after acquiring an additional 41,662 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Live Oak Bancshares in the 3rd quarter valued at $364,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Live Oak Bancshares by 44.3% during the 4th quarter. Victory Capital Management Inc. now owns 46,527 shares of the bank's stock valued at $1,840,000 after acquiring an additional 14,293 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Stock Performance

Shares of NASDAQ LOB traded up $0.23 during midday trading on Friday, reaching $26.64. 530,659 shares of the company's stock were exchanged, compared to its average volume of 231,179. The stock has a market capitalization of $1.21 billion, a PE ratio of 18.37 and a beta of 1.75. Live Oak Bancshares, Inc. has a 52-week low of $22.68 and a 52-week high of $50.57. The business's fifty day moving average price is $27.35 and its two-hundred day moving average price is $36.92.

Live Oak Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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 dividend yield of 0.45%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares's payout ratio is currently 8.28%.

Analysts Set New Price Targets

LOB has been the subject of several recent research reports. StockNews.com downgraded Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. Keefe, Bruyette & Woods dropped their target price on Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a report on Friday. One 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 an average price target 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.