Handelsbanken Fonder AB Makes New $314,000 Investment in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Handelsbanken Fonder AB bought a new stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,900 shares of the bank’s stock, valued at approximately $314,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornercap Investment Counsel Inc. purchased a new stake in Live Oak Bancshares during the 4th quarter worth approximately $1,285,000. Trust Co of the South bought a new stake in shares of Live Oak Bancshares in the fourth quarter worth $15,042,000. CenterBook Partners LP boosted its stake in Live Oak Bancshares by 41.3% during the 3rd quarter. CenterBook Partners LP now owns 137,966 shares of the bank’s stock valued at $3,994,000 after acquiring an additional 40,343 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Live Oak Bancshares during the 3rd quarter worth $994,000. Finally, Bank of New York Mellon Corp increased its position in shares of Live Oak Bancshares by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock worth $5,708,000 after purchasing an additional 2,721 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LOB has been the subject of a number of research reports. Truist Financial decreased their price target on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 26th. TheStreet lowered Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price target (down from $45.00) on shares of Live Oak Bancshares in a research report on Friday, April 26th. 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, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $38.00.

Live Oak Bancshares Stock Up 4.1 %

Shares of LOB stock opened at $34.87 on Friday. The company has a market cap of $1.56 billion, a P/E ratio of 17.52 and a beta of 1.63. The business has a 50 day moving average of $38.64 and a two-hundred day moving average of $37.53. Live Oak Bancshares, Inc. has a 52 week low of $19.53 and a 52 week high of $47.22.

Live Oak Bancshares Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, February 26th. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. Live Oak Bancshares’s dividend payout ratio is currently 6.03%.

Insider Buying and Selling

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

About Live Oak Bancshares

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.