Algert Global LLC Increases Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Algert Global LLC increased its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,756 shares of the bank’s stock after buying an additional 4,962 shares during the quarter. Algert Global LLC’s holdings in Live Oak Bancshares were worth $3,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Live Oak Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank’s stock valued at $104,066,000 after acquiring an additional 10,213 shares during the period. Capital International Investors grew its holdings in shares of Live Oak Bancshares by 75.8% in the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock worth $80,749,000 after purchasing an additional 880,530 shares during the last quarter. Southernsun Asset Management LLC increased its stake in Live Oak Bancshares by 10.3% in the 4th quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank’s stock worth $31,510,000 after buying an additional 74,193 shares during the period. abrdn plc boosted its position in Live Oak Bancshares by 10.0% in the 4th quarter. abrdn plc now owns 336,721 shares of the bank’s stock valued at $13,324,000 after buying an additional 30,597 shares during the period. Finally, Northern Trust Corp grew its stake in Live Oak Bancshares by 3.2% in the 4th quarter. Northern Trust Corp now owns 314,325 shares of the bank’s stock worth $12,432,000 after acquiring an additional 9,661 shares in the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Stock Performance

NASDAQ:LOB opened at $25.78 on Wednesday. The firm has a 50-day simple moving average of $26.57 and a 200-day simple moving average of $35.79. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57. The firm has a market cap of $1.17 billion, a P/E ratio of 17.78 and a beta of 1.84.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio (DPR) is 9.23%.

Analyst Upgrades and Downgrades

LOB has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.25.

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.