Commonwealth Equity Services LLC Increases Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Commonwealth Equity Services LLC lifted its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 79,413 shares of the bank’s stock after acquiring an additional 2,301 shares during the period. Commonwealth Equity Services LLC’s holdings in Live Oak Bancshares were worth $3,141,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of LOB. Quarry LP raised its position in shares of Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 354 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Live Oak Bancshares in the fourth quarter valued at $71,000. Principal Securities Inc. increased its stake in 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 purchasing an additional 1,498 shares during the last quarter. FMR LLC lifted its position in Live Oak Bancshares by 15.0% during the third quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after buying an additional 568 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in Live Oak Bancshares by 7.1% in the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock worth $237,000 after buying an additional 400 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Stock Performance

Shares of NASDAQ:LOB opened at $27.95 on Wednesday. The stock has a 50-day simple moving average of $33.05 and a 200-day simple moving average of $40.46. The stock has a market capitalization of $1.26 billion, a P/E ratio of 19.28 and a beta of 1.69. Live Oak Bancshares, Inc. has a 1 year low of $26.50 and a 1 year high of $50.57.

Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares’s payout ratio is currently 8.28%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, March 20th. Keefe, Bruyette & Woods reaffirmed 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.75.

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.