Raymond James Financial Inc. Acquires 36,235 Shares of Live Oak Bancshares, Inc. $LOB

Raymond James Financial Inc. raised its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 27.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,650 shares of the bank’s stock after buying an additional 36,235 shares during the period. Raymond James Financial Inc. owned about 0.37% of Live Oak Bancshares worth $4,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in LOB. Nuveen LLC bought a new position in Live Oak Bancshares in the 1st quarter valued at about $8,116,000. Citigroup Inc. lifted its holdings in shares of Live Oak Bancshares by 428.2% in 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 in the last quarter. Motley Fool Wealth Management LLC lifted its holdings in shares of Live Oak Bancshares by 80.5% in 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Live Oak Bancshares in the fourth quarter valued at approximately $2,931,000. Finally, CenterBook Partners LP lifted its holdings in shares of Live Oak Bancshares by 49.2% in 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 in the last quarter. Institutional investors own 63.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $37.00 to $43.00 in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.33.

Live Oak Bancshares Price Performance

NASDAQ LOB opened at $38.39 on Friday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 26.48 and a beta of 1.75. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57. The business’s fifty day moving average is $33.72 and its 200-day moving average is $29.70.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a sep 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a yield of 32.0%. Live Oak Bancshares’s payout ratio is currently 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.