abrdn plc Raises Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

abrdn plc lifted its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 10.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 336,721 shares of the bank’s stock after buying an additional 30,597 shares during the period. abrdn plc’s holdings in Live Oak Bancshares were worth $13,324,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LOB. 49 Wealth Management LLC increased its position in shares of Live Oak Bancshares by 2.1% during the third quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after acquiring an additional 212 shares during the last quarter. Quarry LP increased its position in shares of Live Oak Bancshares by 98.6% during the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after purchasing an additional 354 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Live Oak Bancshares by 3.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank’s stock worth $411,000 after purchasing an additional 356 shares during the period. First Hawaiian Bank boosted its holdings in shares of Live Oak Bancshares by 3.6% in the 4th quarter. First Hawaiian Bank now owns 16,002 shares of the bank’s stock worth $633,000 after buying an additional 551 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Live Oak Bancshares by 15.0% in 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 last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Down 1.1 %

NASDAQ LOB opened at $35.26 on Friday. The firm has a market cap of $1.59 billion, a P/E ratio of 24.32 and a beta of 1.67. The company’s 50 day moving average is $40.06 and its 200-day moving average is $42.98. Live Oak Bancshares, Inc. has a 12-month low of $31.03 and a 12-month high of $50.57.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.03 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. Live Oak Bancshares’s payout ratio is 8.28%.

Insiders Place Their Bets

In other news, CAO John W. Sutherland sold 12,588 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total value of $616,812.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at approximately $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LOB shares. Piper Sandler lowered their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $44.00 price objective (down from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th.

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.