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

Raymond James Financial Inc. acquired a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 133,415 shares of the bank’s stock, valued at approximately $5,277,000.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Live Oak Bancshares by 7.7% during the 4th quarter. Arizona State Retirement System now owns 10,455 shares of the bank’s stock valued at $413,000 after acquiring an additional 743 shares during the period. Victory Capital Management Inc. raised its position in shares of Live Oak Bancshares by 44.3% in the fourth quarter. Victory Capital Management Inc. now owns 46,527 shares of the bank’s stock worth $1,840,000 after buying an additional 14,293 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Live Oak Bancshares by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,002 shares of the bank’s stock valued at $11,232,000 after buying an additional 5,181 shares during the period. Allegiance Financial Group Advisory Services LLC grew its position in Live Oak Bancshares by 17.5% during the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 6,313 shares of the bank’s stock worth $250,000 after buying an additional 940 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Live Oak Bancshares by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 172,896 shares of the bank’s stock worth $6,838,000 after acquiring an additional 8,232 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $44.00 target price (down previously from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares has an average rating of “Hold” and an average target price of $44.75.

Live Oak Bancshares Trading Up 0.8 %

LOB opened at $27.95 on Wednesday. The company has a market cap of $1.26 billion, a P/E ratio of 19.28 and a beta of 1.69. Live Oak Bancshares, Inc. has a 12 month low of $26.50 and a 12 month high of $50.57. The business’s 50-day moving average price is $33.05 and its 200-day moving average price is $40.46.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.43%. Live Oak Bancshares’s payout ratio is currently 8.28%.

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.