Central Pacific Bank Trust Division raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB – Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,392 shares of the bank’s stock after purchasing an additional 356 shares during the period. Central Pacific Bank Trust Division’s holdings in Live Oak Bancshares were worth $411,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of LOB. 49 Wealth Management LLC grew its stake in Live Oak Bancshares by 2.1% in the 3rd quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after buying an additional 212 shares in the last quarter. Quarry LP boosted its holdings in shares of Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after acquiring an additional 354 shares during the period. FMR LLC grew its position in shares of Live Oak Bancshares by 15.0% in the third quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after purchasing an additional 568 shares in the last quarter. nVerses Capital LLC raised its stake in shares of Live Oak Bancshares by 87.5% during the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 700 shares during the period. Finally, Quest Partners LLC lifted its holdings in Live Oak Bancshares by 68.4% during the 2nd quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after purchasing an additional 823 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.
Live Oak Bancshares Trading Up 0.7 %
Shares of LOB opened at $38.81 on Friday. Live Oak Bancshares, Inc. has a 12-month low of $31.03 and a 12-month high of $50.57. The company has a market cap of $1.75 billion, a PE ratio of 24.41 and a beta of 1.66. The stock has a 50-day moving average price of $43.98 and a 200-day moving average price of $42.66.
Live Oak Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 annualized dividend and a yield of 0.31%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 7.55%.
Insider Activity at Live Oak Bancshares
In other news, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction of $616,812.00. Following the transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. This represents a 47.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Henderson Cameron acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were purchased at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the acquisition, the director now owns 202,217 shares in the company, valued at $8,040,147.92. This represents a 0.50 % increase in their position. The disclosure for this purchase can be found here. 23.90% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Truist Financial reduced their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 28th. Piper Sandler lowered their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.50.
Read Our Latest Analysis on LOB
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.
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