E. Ohman J or Asset Management AB Raises Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

E. Ohman J or Asset Management AB lifted its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 81.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,969 shares of the bank’s stock after acquiring an additional 40,343 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Live Oak Bancshares were worth $2,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Live Oak Bancshares by 0.4% during the fourth 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 last quarter. Capital International Investors increased its position in shares of Live Oak Bancshares by 75.8% during the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock valued at $80,749,000 after acquiring an additional 880,530 shares during the last quarter. Southernsun Asset Management LLC increased its position in shares of Live Oak Bancshares by 10.3% during the fourth quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank’s stock valued at $31,510,000 after acquiring an additional 74,193 shares during the last quarter. abrdn plc increased its position in shares of Live Oak Bancshares by 10.0% during the fourth quarter. abrdn plc now owns 336,721 shares of the bank’s stock valued at $13,324,000 after acquiring an additional 30,597 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Live Oak Bancshares by 3.2% during the fourth quarter. Northern Trust Corp now owns 314,325 shares of the bank’s stock valued at $12,432,000 after acquiring an additional 9,661 shares during the last quarter. 63.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Live Oak Bancshares

In related news, Director William Henderson Cameron purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $25.92 per share, with a total value of $129,600.00. Following the completion of the acquisition, the director now directly owns 11,904 shares of the company’s stock, valued at approximately $308,551.68. The trade was a 72.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 23.40% of the stock is owned by corporate insiders.

Live Oak Bancshares Trading Up 3.2%

Shares of NASDAQ LOB opened at $28.16 on Friday. The stock has a fifty day simple moving average of $26.24 and a two-hundred day simple moving average of $33.14. Live Oak Bancshares, Inc. has a 1-year low of $22.68 and a 1-year high of $50.57. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 19.42 and a beta of 1.85.

Live Oak Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, June 3rd. Live Oak Bancshares’s dividend payout ratio (DPR) is 9.23%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LOB. Keefe, Bruyette & Woods decreased their price target on Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, April 25th. Wall Street Zen lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and an average target price of $42.25.

About Live Oak Bancshares

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.