T. Rowe Price Investment Management Inc. Reduces Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

T. Rowe Price Investment Management Inc. lowered its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,419,486 shares of the bank's stock after selling 37,303 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 14.21% of Live Oak Bancshares worth $253,891,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LOB. Geode Capital Management LLC grew its stake in shares of Live Oak Bancshares by 1.8% in the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock valued at $36,658,000 after buying an additional 13,824 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Live Oak Bancshares by 195.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank's stock valued at $3,888,000 after acquiring an additional 54,286 shares during the period. Barclays PLC grew its position in Live Oak Bancshares by 130.5% in the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank's stock valued at $3,485,000 after acquiring an additional 41,662 shares in the last quarter. Victory Capital Management Inc. increased its stake in Live Oak Bancshares by 44.3% during the fourth quarter. Victory Capital Management Inc. now owns 46,527 shares of the bank's stock worth $1,840,000 after purchasing an additional 14,293 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Live Oak Bancshares during the fourth quarter worth about $5,277,000. Institutional investors and hedge funds own 63.95% of the company's stock.

Wall Street Analyst Weigh In

LOB has been the subject of a number of research reports. StockNews.com cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. Keefe, Bruyette & Woods dropped their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.25.

Live Oak Bancshares Stock Up 0.9 %

NASDAQ LOB traded up $0.23 on Friday, hitting $26.64. 530,659 shares of the stock were exchanged, compared to its average volume of 230,675. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57. The company has a 50-day moving average price of $27.35 and a 200-day moving average price of $36.85. The company has a market cap of $1.21 billion, a PE ratio of 18.37 and a beta of 1.75.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid 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 dividend yield of 0.45%. Live Oak Bancshares's payout ratio is currently 8.28%.

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.