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

Commonwealth Equity Services LLC raised its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOBGet Rating) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,147 shares of the bank’s stock after purchasing an additional 2,286 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.22% of Live Oak Bancshares worth $4,892,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Live Oak Bancshares in the 4th quarter worth about $29,000. USA Financial Portformulas Corp purchased a new stake in shares of Live Oak Bancshares in the 4th quarter worth about $34,000. Private Capital Group LLC purchased a new stake in shares of Live Oak Bancshares in the 1st quarter worth about $39,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Live Oak Bancshares in the 1st quarter worth about $102,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Live Oak Bancshares in the 4th quarter worth about $103,000. 62.15% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Stock Performance

LOB opened at $38.44 on Friday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 8.86 and a beta of 1.54. The company’s 50-day simple moving average is $35.66 and its two-hundred day simple moving average is $47.06. Live Oak Bancshares, Inc. has a 52-week low of $30.24 and a 52-week high of $99.89.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, May 27th. Live Oak Bancshares’s dividend payout ratio is currently 2.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LOB shares. JPMorgan Chase & Co. downgraded shares of Live Oak Bancshares from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $41.00 in a research report on Friday, July 1st. TheStreet cut shares of Live Oak Bancshares from a “b-” rating to a “c” rating in a research note on Thursday, June 23rd. Raymond James cut shares of Live Oak Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. Piper Sandler dropped their price target on shares of Live Oak Bancshares from $51.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 29th. Finally, Truist Financial dropped their price target on shares of Live Oak Bancshares from $55.00 to $49.00 in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Live Oak Bancshares has a consensus rating of “Hold” and an average target price of $46.25.

Live Oak Bancshares Profile

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Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.

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Institutional Ownership by Quarter for Live Oak Bancshares (NASDAQ:LOB)

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