Russell Investments Group Ltd. Has $5.31 Million Stake in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Russell Investments Group Ltd. boosted its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,648 shares of the bank’s stock after buying an additional 4,153 shares during the quarter. Russell Investments Group Ltd.’s holdings in Live Oak Bancshares were worth $5,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOB. Allspring Global Investments Holdings LLC lifted its position in Live Oak Bancshares by 66.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock worth $40,000 after buying an additional 551 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Live Oak Bancshares by 1,127.6% during the 4th quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after purchasing an additional 1,962 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Live Oak Bancshares by 34.8% during the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock valued at $136,000 after purchasing an additional 775 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Live Oak Bancshares by 48.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,122 shares of the bank’s stock valued at $177,000 after purchasing an additional 2,002 shares in the last quarter. Finally, Arbor Investment Advisors LLC bought a new position in shares of Live Oak Bancshares during the 4th quarter valued at $211,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on LOB shares. Truist Financial cut their price target 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. TheStreet downgraded shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 target price (down previously from $45.00) on shares of Live Oak Bancshares in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.00.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $35.51 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.84 and a beta of 1.63. The company’s fifty day moving average is $38.23 and its two-hundred day moving average is $37.77. Live Oak Bancshares, Inc. has a 52-week low of $19.53 and a 52-week high of $47.22.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were given a $0.03 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.12 annualized dividend and a yield of 0.34%. Live Oak Bancshares’s dividend payout ratio is 6.03%.

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.