Live Oak Bancshares, Inc. $LOB Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC lifted its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 14.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,671 shares of the bank’s stock after acquiring an additional 1,122 shares during the quarter. Ballentine Partners LLC’s holdings in Live Oak Bancshares were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in Live Oak Bancshares by 1.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,484,524 shares of the bank’s stock valued at $172,878,000 after buying an additional 65,038 shares during the period. Vanguard Group Inc. grew its position in Live Oak Bancshares by 1.0% during the first quarter. Vanguard Group Inc. now owns 2,657,737 shares of the bank’s stock valued at $70,855,000 after buying an additional 26,481 shares during the period. Millennium Management LLC grew its position in Live Oak Bancshares by 655.6% during the first quarter. Millennium Management LLC now owns 687,885 shares of the bank’s stock valued at $18,339,000 after buying an additional 596,841 shares during the period. Nuveen LLC acquired a new stake in Live Oak Bancshares during the first quarter valued at $8,116,000. Finally, Citigroup Inc. grew its position in 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 buying an additional 239,356 shares during the period. Institutional investors and hedge funds own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

Shares of LOB stock opened at $35.78 on Tuesday. The firm’s 50-day moving average is $35.23 and its two-hundred day moving average is $30.37. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $50.30. The company has a market capitalization of $1.64 billion, a PE ratio of 24.67 and a beta of 1.75.

Live Oak Bancshares Dividend Announcement

The company also recently announced a sep 25 dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a yield of 32.0%. Live Oak Bancshares’s payout ratio is 9.84%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Cowen assumed coverage on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. National Bankshares set a $50.00 target price on shares of Live Oak Bancshares in a research report on Wednesday, September 24th. Keefe, Bruyette & Woods raised shares of Live Oak Bancshares from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $37.00 to $43.00 in a research note on Tuesday, August 19th. Finally, Cantor Fitzgerald assumed coverage on shares of Live Oak Bancshares in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $42.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.00.

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.