Rhumbline Advisers Buys 722 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Rhumbline Advisers grew its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 1.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,102 shares of the bank’s stock after purchasing an additional 722 shares during the quarter. Rhumbline Advisers’ holdings in Live Oak Bancshares were worth $1,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in Live Oak Bancshares by 13.4% during the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock worth $52,553,000 after purchasing an additional 131,343 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Live Oak Bancshares by 82.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 185,309 shares of the bank’s stock worth $8,778,000 after buying an additional 83,639 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 54,286 shares in the last quarter. Barclays PLC boosted its stake in 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 buying an additional 41,662 shares in the last quarter. Finally, abrdn plc grew its stake in shares of Live Oak Bancshares by 10.0% during the fourth quarter. abrdn plc now owns 336,721 shares of the bank’s stock valued at $13,324,000 after buying an additional 30,597 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB opened at $31.26 on Tuesday. The firm has a 50-day moving average of $36.59 and a 200 day moving average of $42.05. Live Oak Bancshares, Inc. has a 1 year low of $31.03 and a 1 year high of $50.57. The stock has a market cap of $1.41 billion, a P/E ratio of 21.56 and a beta of 1.67.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Tuesday, February 25th. Live Oak Bancshares’s payout ratio is 8.28%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $44.00 target price (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th.

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.