JPMorgan Chase & Co. Acquires 44,666 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

JPMorgan Chase & Co. increased its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 54.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,743 shares of the bank’s stock after purchasing an additional 44,666 shares during the period. JPMorgan Chase & Co. owned approximately 0.28% of Live Oak Bancshares worth $5,013,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LOB. Central Pacific Bank Trust Division lifted its position in 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 acquiring an additional 356 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Live Oak Bancshares by 7.1% in the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock worth $237,000 after purchasing an additional 400 shares during the period. First Hawaiian Bank lifted its position in shares of Live Oak Bancshares by 3.6% during the 4th quarter. First Hawaiian Bank now owns 16,002 shares of the bank’s stock worth $633,000 after purchasing an additional 551 shares during the last quarter. FMR LLC boosted its stake in Live Oak Bancshares by 15.0% during the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after purchasing an additional 568 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Live Oak Bancshares in the 4th quarter valued at approximately $27,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $44.00 price target (down from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. StockNews.com cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.75.

Live Oak Bancshares Trading Up 1.2 %

Shares of NASDAQ:LOB opened at $24.18 on Friday. The firm has a market capitalization of $1.10 billion, a PE ratio of 16.68 and a beta of 1.75. Live Oak Bancshares, Inc. has a 1-year low of $22.68 and a 1-year high of $50.57. The business’s 50 day moving average is $28.24 and its 200-day moving average is $37.65.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.50%. Live Oak Bancshares’s dividend payout ratio is currently 8.28%.

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.