Principal Financial Group Inc. Increases Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Principal Financial Group Inc. grew its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,139 shares of the bank’s stock after purchasing an additional 2,340 shares during the quarter. Principal Financial Group Inc. owned approximately 0.06% of Live Oak Bancshares worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Quarry LP boosted its position in shares of Live Oak Bancshares by 98.6% in the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after purchasing an additional 354 shares during the period. Principal Securities Inc. boosted its holdings in shares of Live Oak Bancshares by 99.7% in the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock valued at $119,000 after acquiring an additional 1,498 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Live Oak Bancshares by 161.4% in the third quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock valued at $150,000 after acquiring an additional 1,954 shares during the period. Entropy Technologies LP purchased a new position in shares of Live Oak Bancshares during the third quarter worth approximately $205,000. Finally, FMR LLC increased its holdings in shares of Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after acquiring an additional 568 shares during the period. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 0.5 %

Live Oak Bancshares stock opened at $30.08 on Thursday. The stock has a 50 day moving average of $36.25 and a two-hundred day moving average of $41.92. Live Oak Bancshares, Inc. has a twelve month low of $29.66 and a twelve month high of $50.57. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 20.74 and a beta of 1.67.

Live Oak Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio is presently 8.28%.

Analyst Ratings Changes

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

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.