Rhumbline Advisers Acquires 722 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Rhumbline Advisers lifted its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,102 shares of the bank’s stock after buying an additional 722 shares during the period. Rhumbline Advisers owned about 0.11% of Live Oak Bancshares worth $1,982,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Live Oak Bancshares by 1.8% in the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock valued at $36,658,000 after purchasing an additional 13,824 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Live Oak Bancshares by 195.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank’s stock worth $3,888,000 after purchasing an additional 54,286 shares during the last quarter. Barclays PLC boosted its stake in shares of Live Oak Bancshares by 130.5% during the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank’s stock worth $3,485,000 after acquiring an additional 41,662 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Live Oak Bancshares during the 3rd quarter worth about $364,000. Finally, Stifel Financial Corp grew its position in shares of Live Oak Bancshares by 59.5% in the third quarter. Stifel Financial Corp now owns 19,720 shares of the bank’s stock valued at $934,000 after purchasing an additional 7,357 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $44.00 price target (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th.

Live Oak Bancshares Price Performance

Shares of LOB opened at $31.26 on Tuesday. The firm has a 50 day simple moving average of $36.59 and a two-hundred day simple moving average of $42.05. The company has a market cap of $1.41 billion, a P/E ratio of 21.56 and a beta of 1.67. Live Oak Bancshares, Inc. has a one year low of $31.03 and a one year high of $50.57.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, February 25th. Live Oak Bancshares’s payout ratio is 8.28%.

Live Oak Bancshares Company 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.