JPMorgan Chase & Co. Has $5.01 Million Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

JPMorgan Chase & Co. grew its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 54.4% during the 4th quarter, HoldingsChannel reports. The firm owned 126,743 shares of the bank’s stock after acquiring an additional 44,666 shares during the quarter. JPMorgan Chase & Co.’s holdings in Live Oak Bancshares were worth $5,013,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in Live Oak Bancshares during the 4th quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in Live Oak Bancshares in the fourth quarter valued at approximately $71,000. Principal Securities Inc. grew its stake in Live Oak Bancshares by 99.7% in the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock valued at $119,000 after acquiring an additional 1,498 shares during the period. FMR LLC raised its holdings in Live Oak Bancshares by 15.0% during the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after buying an additional 568 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Live Oak Bancshares by 7.1% in the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock valued at $237,000 after acquiring an additional 400 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LOB has been the subject of several recent research reports. StockNews.com cut Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $44.00 price objective (down previously from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Oak Bancshares presently has a consensus rating of “Hold” and an average target price of $44.75.

Live Oak Bancshares Stock Up 1.2 %

Live Oak Bancshares stock opened at $24.18 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of 16.68 and a beta of 1.75. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The company’s 50 day moving average price is $28.24 and its two-hundred day moving average price is $37.65.

Live Oak Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid 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 0.50%. Live Oak Bancshares’s payout ratio is presently 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.