New York Life Investment Management LLC Sells 416 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

New York Life Investment Management LLC reduced its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 2.9% during the 4th quarter, Holdings Channel reports. The firm owned 14,171 shares of the bank’s stock after selling 416 shares during the period. New York Life Investment Management LLC’s holdings in Live Oak Bancshares were worth $645,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LOB. SG Americas Securities LLC acquired a new stake in Live Oak Bancshares in the third quarter worth $420,000. Bank of New York Mellon Corp lifted its holdings in Live Oak Bancshares by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank’s stock worth $5,708,000 after acquiring an additional 2,721 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Live Oak Bancshares by 48.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock valued at $177,000 after acquiring an additional 2,002 shares during the period. Inspire Investing LLC bought a new stake in shares of Live Oak Bancshares in the third quarter worth about $306,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Live Oak Bancshares by 66.0% during 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. 63.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Live Oak Bancshares

In other news, Director Miltom Emmett Petty sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $39.73, for a total transaction of $397,300.00. Following the completion of the sale, the director now owns 121,941 shares in the company, valued at approximately $4,844,715.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Miltom Emmett Petty sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now 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 is available 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 stock was 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 of the company’s stock, 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.

Wall Street Analyst Weigh In

LOB has been the subject of a number of research reports. TheStreet cut Live Oak Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Truist Financial dropped their price objective on shares of Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 price objective (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 issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.00.

Live Oak Bancshares Stock Down 2.3 %

NASDAQ:LOB opened at $34.45 on Thursday. Live Oak Bancshares, Inc. has a 12-month low of $19.53 and a 12-month high of $47.22. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 17.31 and a beta of 1.63. The stock’s 50 day moving average price is $38.32 and its two-hundred day moving average price is $37.79.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 6.03%.

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.