KLP Kapitalforvaltning AS Acquires Shares of 6,700 Live Oak Bancshares, Inc. (NASDAQ:LOB)

KLP Kapitalforvaltning AS acquired a new stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 6,700 shares of the bank’s stock, valued at approximately $265,000.

A number of other hedge funds have also modified their holdings of LOB. Picton Mahoney Asset Management purchased a new stake in Live Oak Bancshares in the 4th quarter valued at $27,000. Quarry LP increased its stake in Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after purchasing an additional 354 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Live Oak Bancshares in the fourth quarter valued at about $71,000. Principal Securities Inc. boosted its stake in shares of Live Oak Bancshares by 99.7% during the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock worth $119,000 after buying an additional 1,498 shares during the period. Finally, FMR LLC grew its holdings in shares of Live Oak Bancshares by 15.0% during the third quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after buying an additional 568 shares during the last quarter. 63.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on LOB shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $44.00 price objective (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. StockNews.com downgraded Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Live Oak Bancshares currently has a consensus rating of “Hold” and an average price target of $44.75.

Live Oak Bancshares Stock Down 1.9 %

Shares of NASDAQ:LOB opened at $24.28 on Monday. Live Oak Bancshares, Inc. has a 52 week low of $23.00 and a 52 week high of $50.57. The company has a 50-day moving average price of $31.00 and a 200 day moving average price of $39.43. The company has a market cap of $1.11 billion, a P/E ratio of 16.74 and a beta of 1.69.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. Live Oak Bancshares’s dividend payout ratio is currently 8.28%.

Live Oak Bancshares Company 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.