Raymond James Financial Inc. bought a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 133,415 shares of the bank's stock, valued at approximately $5,277,000. Raymond James Financial Inc. owned 0.30% of Live Oak Bancshares at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LOB. Arizona State Retirement System increased its position in shares of Live Oak Bancshares by 7.7% in the fourth quarter. Arizona State Retirement System now owns 10,455 shares of the bank's stock worth $413,000 after purchasing an additional 743 shares during the period. Victory Capital Management Inc. increased its holdings in Live Oak Bancshares by 44.3% in the 4th quarter. Victory Capital Management Inc. now owns 46,527 shares of the bank's stock valued at $1,840,000 after buying an additional 14,293 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Live Oak Bancshares by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,002 shares of the bank's stock valued at $11,232,000 after buying an additional 5,181 shares during the period. Allegiance Financial Group Advisory Services LLC raised its position in shares of Live Oak Bancshares by 17.5% in the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 6,313 shares of the bank's stock valued at $250,000 after buying an additional 940 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Live Oak Bancshares by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 172,896 shares of the bank's stock worth $6,838,000 after acquiring an additional 8,232 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.
Live Oak Bancshares Price Performance
LOB stock traded down $1.14 during trading on Friday, reaching $26.55. 304,407 shares of the company were exchanged, compared to its average volume of 208,803. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 18.31 and a beta of 1.69. The company has a 50-day moving average of $32.26 and a two-hundred day moving average of $40.16. Live Oak Bancshares, Inc. has a twelve month low of $26.34 and a twelve month high of $50.57.
Live Oak Bancshares Announces Dividend
The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. Live Oak Bancshares's dividend payout ratio is currently 8.28%.
Analyst Ratings Changes
A number of brokerages recently issued reports on LOB. StockNews.com cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research note on Friday. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $44.00 price target (down previously from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. One equities 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $44.75.
View Our Latest Research Report on LOB
About Live Oak Bancshares
(
Free Report)
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.
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