Hsbc Holdings PLC Cuts Stake in Live Oak Bancshares, Inc. $LOB

Hsbc Holdings PLC lessened its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,365 shares of the bank’s stock after selling 2,126 shares during the quarter. Hsbc Holdings PLC’s holdings in Live Oak Bancshares were worth $487,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LOB. Nuveen LLC purchased a new stake in shares of Live Oak Bancshares during the first quarter valued at approximately $8,116,000. Citigroup Inc. boosted its stake in shares of Live Oak Bancshares by 428.2% during the first quarter. Citigroup Inc. now owns 295,250 shares of the bank’s stock valued at $7,871,000 after purchasing an additional 239,356 shares during the period. Motley Fool Wealth Management LLC boosted its stake in shares of Live Oak Bancshares by 80.5% during the first quarter. Motley Fool Wealth Management LLC now owns 263,859 shares of the bank’s stock valued at $7,034,000 after purchasing an additional 117,674 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Live Oak Bancshares during the fourth quarter valued at approximately $2,931,000. Finally, CenterBook Partners LP boosted its stake in shares of Live Oak Bancshares by 49.2% during the first quarter. CenterBook Partners LP now owns 173,565 shares of the bank’s stock valued at $4,627,000 after purchasing an additional 57,217 shares during the period. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised Live Oak Bancshares from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $37.00 to $43.00 in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Live Oak Bancshares currently has an average rating of “Moderate Buy” and an average price target of $44.33.

Live Oak Bancshares Stock Down 0.0%

Shares of LOB stock opened at $38.72 on Tuesday. The stock has a fifty day moving average of $33.05 and a 200 day moving average of $29.52. Live Oak Bancshares, Inc. has a 52 week low of $22.68 and a 52 week high of $50.57. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 26.70 and a beta of 1.82.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a yield of 31.0%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 9.84%.

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.