Price T Rowe Associates Inc. MD Buys 2,594 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Price T Rowe Associates Inc. MD boosted its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 10.4% during the 4th quarter, Holdings Channel reports. The firm owned 27,437 shares of the bank’s stock after buying an additional 2,594 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Live Oak Bancshares were worth $1,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Live Oak Bancshares by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank’s stock worth $104,066,000 after purchasing an additional 10,213 shares during the last quarter. Capital International Investors increased its holdings in shares of Live Oak Bancshares by 75.8% in the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock worth $80,749,000 after buying an additional 880,530 shares during the last quarter. Southernsun Asset Management LLC raised its position in shares of Live Oak Bancshares by 10.3% during the 4th quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank’s stock valued at $31,510,000 after buying an additional 74,193 shares in the last quarter. abrdn plc lifted its holdings in shares of Live Oak Bancshares by 10.0% in the 4th quarter. abrdn plc now owns 336,721 shares of the bank’s stock valued at $13,324,000 after acquiring an additional 30,597 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Live Oak Bancshares by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,002 shares of the bank’s stock worth $11,232,000 after acquiring an additional 5,181 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LOB. StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 28th. Keefe, Bruyette & Woods lowered their price target on Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Live Oak Bancshares has an average rating of “Hold” and a consensus price target of $42.25.

Insiders Place Their Bets

In related news, Director William Henderson Cameron bought 5,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $25.92 per share, with a total value of $129,600.00. Following the completion of the transaction, the director now owns 11,904 shares in the company, valued at $308,551.68. The trade was a 72.42 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 23.40% of the company’s stock.

Live Oak Bancshares Price Performance

Shares of NASDAQ:LOB opened at $27.13 on Friday. The firm has a market capitalization of $1.24 billion, a PE ratio of 18.71 and a beta of 1.84. The business has a 50 day simple moving average of $26.30 and a two-hundred day simple moving average of $35.37. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57.

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 given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 9.23%.

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.