Live Oak Bancshares, Inc. $LOB Position Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,933 shares of the bank’s stock after acquiring an additional 24,664 shares during the period. Envestnet Asset Management Inc. owned approximately 0.45% of Live Oak Bancshares worth $7,253,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in shares of 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 purchasing an additional 596,841 shares during the period. Jane Street Group LLC increased its stake in Live Oak Bancshares by 1,263.2% during the 1st quarter. Jane Street Group LLC now owns 201,816 shares of the bank’s stock valued at $5,380,000 after buying an additional 187,011 shares during the period. CenterBook Partners LP raised its position in shares of Live Oak Bancshares by 105.4% during the 2nd quarter. CenterBook Partners LP now owns 356,416 shares of the bank’s stock worth $10,621,000 after buying an additional 182,851 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Live Oak Bancshares by 937,663.2% in the 3rd quarter. Whittier Trust Co. now owns 178,175 shares of the bank’s stock worth $6,184,000 after acquiring an additional 178,156 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in shares of Live Oak Bancshares in the second quarter valued at approximately $4,722,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ewa Maria Stasiowska bought 2,595 shares of Live Oak Bancshares stock in a transaction dated Monday, January 26th. The stock was acquired at an average cost of $38.53 per share, with a total value of $99,985.35. Following the completion of the acquisition, the insider directly owned 2,595 shares in the company, valued at approximately $99,985.35. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Courtney Spencer sold 9,700 shares of Live Oak Bancshares stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $39.01, for a total value of $378,397.00. Following the completion of the transaction, the insider directly owned 25,160 shares in the company, valued at $981,491.60. This represents a 27.83% decrease in their position. The SEC filing for this sale provides additional information. 23.40% of the stock is owned by insiders.

Live Oak Bancshares Price Performance

LOB stock opened at $40.87 on Friday. The firm has a market cap of $1.87 billion, a PE ratio of 28.19 and a beta of 2.00. Live Oak Bancshares, Inc. has a 12 month low of $22.68 and a 12 month high of $42.89. The firm has a 50 day simple moving average of $37.96 and a 200 day simple moving average of $35.54.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Thursday, March 5th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, March 5th. Live Oak Bancshares’s payout ratio is presently 5.41%.

Analyst Ratings Changes

A number of research analysts recently commented on LOB shares. Piper Sandler lowered their price objective on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. TD Cowen lowered their price target on Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Live Oak Bancshares has an average rating of “Moderate Buy” and a consensus target price of $44.20.

Live Oak Bancshares Profile

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.