Northern Trust Corp Increases Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Northern Trust Corp lifted its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,325 shares of the bank’s stock after buying an additional 9,661 shares during the quarter. Northern Trust Corp owned approximately 0.70% of Live Oak Bancshares worth $12,432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in Live Oak Bancshares by 130.5% in the third quarter. Barclays PLC now owns 73,577 shares of the bank’s stock valued at $3,485,000 after purchasing an additional 41,662 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Live Oak Bancshares by 195.3% during the third quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank’s stock worth $3,888,000 after acquiring an additional 54,286 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Live Oak Bancshares by 61.8% during the fourth quarter. Park Avenue Securities LLC now owns 6,990 shares of the bank’s stock worth $276,000 after acquiring an additional 2,670 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Live Oak Bancshares by 16.7% during the fourth quarter. Inspire Investing LLC now owns 10,124 shares of the bank’s stock worth $400,000 after acquiring an additional 1,452 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Live Oak Bancshares by 10.0% during the fourth quarter. abrdn plc now owns 336,721 shares of the bank’s stock worth $13,324,000 after acquiring an additional 30,597 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on LOB shares. Keefe, Bruyette & Woods decreased their price target on shares of Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, April 25th. StockNews.com downgraded shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.25.

Insider Transactions at Live Oak Bancshares

In other news, Director William Henderson Cameron bought 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $25.92 per share, for a total transaction of $129,600.00. Following the completion of the acquisition, the director now owns 11,904 shares of the company’s stock, valued at approximately $308,551.68. This trade represents a 72.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 23.40% of the company’s stock.

Live Oak Bancshares Stock Performance

Shares of Live Oak Bancshares stock opened at $28.34 on Friday. Live Oak Bancshares, Inc. has a 52-week low of $22.68 and a 52-week high of $50.57. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 19.54 and a beta of 1.84. The company’s 50 day moving average price is $26.26 and its 200-day moving average price is $34.99.

Live Oak Bancshares 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.