Live Oak Bancshares’ (LOB) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Live Oak Bancshares (NASDAQ:LOB) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $37.00 price target on the bank’s stock, up from their prior price target of $36.00.

Separately, Wall Street Zen lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 28th.

Live Oak Bancshares Trading Up 4.6%

Shares of NASDAQ:LOB opened at $34.01 on Friday. The company has a market cap of $1.55 billion, a PE ratio of 23.46 and a beta of 1.84. The company’s 50 day moving average is $29.68 and its two-hundred day moving average is $29.96. Live Oak Bancshares has a 52 week low of $22.68 and a 52 week high of $50.57.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Tuesday, June 3rd. Live Oak Bancshares’s dividend payout ratio (DPR) is 9.84%.

Insider Activity at Live Oak Bancshares

In related news, Director William Henderson Cameron bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $25.92 per share, with a total value of $129,600.00. Following the transaction, the director directly owned 11,904 shares of the company’s stock, valued at approximately $308,551.68. This represents a 72.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of Live Oak Bancshares by 0.6% in the 4th quarter. Invesco Ltd. now owns 50,720 shares of the bank’s stock valued at $2,006,000 after buying an additional 298 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in shares of Live Oak Bancshares by 7.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank’s stock valued at $221,000 after buying an additional 407 shares during the last quarter. Howe & Rusling Inc. grew its position in shares of Live Oak Bancshares by 8.3% in the 4th quarter. Howe & Rusling Inc. now owns 8,513 shares of the bank’s stock valued at $337,000 after buying an additional 655 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Live Oak Bancshares by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,714 shares of the bank’s stock valued at $780,000 after buying an additional 682 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Live Oak Bancshares by 7.9% in the 4th quarter. LPL Financial LLC now owns 10,326 shares of the bank’s stock valued at $408,000 after buying an additional 757 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

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.