Jennison Associates LLC Buys Shares of 9,176 Live Oak Bancshares, Inc. (NASDAQ:LOB)

Jennison Associates LLC bought a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 9,176 shares of the bank’s stock, valued at approximately $418,000.

Several other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC increased its stake in shares of Live Oak Bancshares by 1.0% in the fourth quarter. Signaturefd LLC now owns 28,333 shares of the bank’s stock worth $1,289,000 after purchasing an additional 294 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Live Oak Bancshares by 66.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after purchasing an additional 551 shares during the period. Toth Financial Advisory Corp increased its stake in shares of Live Oak Bancshares by 34.8% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after purchasing an additional 775 shares during the period. Swiss National Bank increased its stake in shares of Live Oak Bancshares by 1.1% in the third quarter. Swiss National Bank now owns 73,100 shares of the bank’s stock worth $2,116,000 after purchasing an additional 800 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Live Oak Bancshares by 9.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,679 shares of the bank’s stock worth $713,000 after purchasing an additional 1,296 shares during the period. 63.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now directly owns 43,864 shares of the company’s stock, valued at $1,748,857.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of Live Oak Bancshares stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the sale, the director now directly owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Micah S. Davis sold 8,613 shares of Live Oak Bancshares stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the sale, the insider now directly owns 43,864 shares in the company, valued at $1,748,857.68. The disclosure for this sale can be found here. 23.90% of the stock is owned by company insiders.

Live Oak Bancshares Stock Down 3.2 %

LOB stock opened at $33.18 on Monday. Live Oak Bancshares, Inc. has a twelve month low of $19.53 and a twelve month high of $47.22. The company has a market cap of $1.49 billion, a PE ratio of 16.67 and a beta of 1.60. The business’s 50-day simple moving average is $39.11 and its 200 day simple moving average is $37.45.

Live Oak Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LOB shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price objective (down from $45.00) on shares of Live Oak Bancshares in a research note on Friday. TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Finally, Truist Financial decreased their target price on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.00.

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.