Arizona State Retirement System Grows Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Arizona State Retirement System raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,455 shares of the bank’s stock after buying an additional 743 shares during the quarter. Arizona State Retirement System’s holdings in Live Oak Bancshares were worth $413,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock worth $36,658,000 after buying an additional 13,824 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Live Oak Bancshares by 195.3% in 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 period. Barclays PLC raised its holdings in shares of Live Oak Bancshares by 130.5% in the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank’s stock worth $3,485,000 after purchasing an additional 41,662 shares during the period. HighTower Advisors LLC acquired a new position in shares of Live Oak Bancshares in the 3rd quarter valued at about $364,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Live Oak Bancshares by 9.8% during the 4th quarter. Principal Financial Group Inc. now owns 26,139 shares of the bank’s stock worth $1,034,000 after purchasing an additional 2,340 shares during the period. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Live Oak Bancshares Price Performance

Shares of Live Oak Bancshares stock opened at $28.58 on Friday. Live Oak Bancshares, Inc. has a 1-year low of $27.57 and a 1-year high of $50.57. The company has a market capitalization of $1.29 billion, a PE ratio of 19.71 and a beta of 1.69. The business has a 50-day moving average of $34.52 and a 200-day moving average of $41.19.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.42%. Live Oak Bancshares’s dividend payout ratio is presently 8.28%.

Analyst Ratings Changes

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

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.