Raymond James Financial Inc. Invests $5.28 Million in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Raymond James Financial Inc. bought a new position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 133,415 shares of the bank's stock, valued at approximately $5,277,000. Raymond James Financial Inc. owned about 0.30% of Live Oak Bancshares at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. grew its position in Live Oak Bancshares by 195.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank's stock worth $3,888,000 after purchasing an additional 54,286 shares during the last quarter. Barclays PLC boosted its stake in shares of Live Oak Bancshares by 130.5% during the third quarter. Barclays PLC now owns 73,577 shares of the bank's stock worth $3,485,000 after buying an additional 41,662 shares during the period. Victory Capital Management Inc. increased its position 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 acquiring an additional 14,293 shares during the period. Principal Financial Group Inc. raised its stake in Live Oak Bancshares by 9.8% during the 4th quarter. Principal Financial Group Inc. now owns 26,139 shares of the bank's stock valued at $1,034,000 after acquiring an additional 2,340 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Live Oak Bancshares during the 4th quarter worth approximately $434,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on LOB shares. Keefe, Bruyette & Woods reduced their target price on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research note on Friday. StockNews.com downgraded Live Oak Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, March 28th. One investment 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.25.

Live Oak Bancshares Price Performance

LOB stock traded down $0.36 during trading on Tuesday, reaching $26.68. 518,307 shares of the stock traded hands, compared to its average volume of 232,632. Live Oak Bancshares, Inc. has a 52-week low of $22.68 and a 52-week high of $50.57. The firm has a market capitalization of $1.22 billion, a PE ratio of 18.40 and a beta of 1.75. The business's 50 day moving average price is $27.23 and its 200-day moving average price is $36.65.

Live Oak Bancshares Dividend Announcement

The firm also recently announced 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 9.23%.

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.