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

Southernsun Asset Management LLC boosted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 796,720 shares of the bank's stock after purchasing an additional 74,193 shares during the period. Live Oak Bancshares makes up about 3.9% of Southernsun Asset Management LLC's portfolio, making the stock its 15th biggest position. Southernsun Asset Management LLC owned approximately 1.76% of Live Oak Bancshares worth $31,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in shares of Live Oak Bancshares during the fourth quarter worth about $27,000. Venturi Wealth Management LLC purchased a new position in Live Oak Bancshares during the 4th quarter worth approximately $71,000. Principal Securities Inc. lifted its stake in Live Oak Bancshares by 99.7% during the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock valued at $119,000 after acquiring an additional 1,498 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of 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 acquiring an additional 407 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Live Oak Bancshares by 7.1% in the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock worth $237,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 63.95% of the company's stock.

Live Oak Bancshares Stock Performance

Shares of LOB traded up $0.23 during trading hours on Friday, hitting $26.64. The stock had a trading volume of 530,659 shares, compared to its average volume of 231,179. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 18.37 and a beta of 1.75. The firm has a 50-day moving average price of $27.35 and a 200 day moving average price of $36.92. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend 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%.

Analyst Ratings Changes

LOB has been the subject of a number of research reports. StockNews.com downgraded shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced their price objective on Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research note on Friday. 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, the company has a consensus rating of "Hold" and an average price target of $42.25.

About Live Oak Bancshares

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.