Raymond James Financial Inc. Buys 36,235 Shares of Live Oak Bancshares, Inc. $LOB

Raymond James Financial Inc. raised its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 27.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 169,650 shares of the bank’s stock after acquiring an additional 36,235 shares during the period. Raymond James Financial Inc.’s holdings in Live Oak Bancshares were worth $4,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp raised its stake in Live Oak Bancshares by 15.6% in the 4th quarter. Stifel Financial Corp now owns 22,791 shares of the bank’s stock valued at $901,000 after acquiring an additional 3,071 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Live Oak Bancshares by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,437 shares of the bank’s stock valued at $1,086,000 after acquiring an additional 2,594 shares during the period. Northern Trust Corp raised its stake in Live Oak Bancshares by 3.2% in the 4th quarter. Northern Trust Corp now owns 314,325 shares of the bank’s stock valued at $12,432,000 after acquiring an additional 9,661 shares during the period. BNP Paribas Financial Markets raised its position in shares of Live Oak Bancshares by 42.3% in the fourth quarter. BNP Paribas Financial Markets now owns 35,649 shares of the bank’s stock valued at $1,410,000 after purchasing an additional 10,595 shares during the period. Finally, Benjamin Edwards Inc. raised its position in shares of Live Oak Bancshares by 10.4% in the fourth quarter. Benjamin Edwards Inc. now owns 8,516 shares of the bank’s stock valued at $337,000 after purchasing an additional 799 shares during the period. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Trading Down 0.7%

Live Oak Bancshares stock opened at $38.39 on Friday. The firm’s 50 day simple moving average is $33.72 and its 200 day simple moving average is $29.70. The firm has a market capitalization of $1.76 billion, a PE ratio of 26.48 and a beta of 1.75. 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 business also recently disclosed a sep 25 dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.03 dividend. This represents a dividend yield of 32.0%. The ex-dividend date is Tuesday, September 2nd. Live Oak Bancshares’s dividend payout ratio is 9.84%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised shares of Live Oak Bancshares from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $37.00 to $43.00 in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.33.

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.