Live Oak Bancshares, Inc. (NASDAQ:LOB) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its holdings in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 12,800 shares of the bank’s stock after selling 500 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Live Oak Bancshares were worth $506,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Live Oak Bancshares by 1.8% during the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock worth $36,658,000 after purchasing an additional 13,824 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Live Oak Bancshares by 195.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 82,077 shares of the bank’s stock valued at $3,888,000 after buying an additional 54,286 shares in the last quarter. Barclays PLC grew its position in shares of Live Oak Bancshares by 130.5% in the 3rd quarter. Barclays PLC now owns 73,577 shares of the bank’s stock valued at $3,485,000 after buying an additional 41,662 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Live Oak Bancshares during the 3rd quarter worth $364,000. Finally, Stifel Financial Corp lifted its position in Live Oak Bancshares by 59.5% in the third quarter. Stifel Financial Corp now owns 19,720 shares of the bank’s stock valued at $934,000 after acquiring an additional 7,357 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Performance

NASDAQ:LOB opened at $34.45 on Tuesday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 23.76 and a beta of 1.67. Live Oak Bancshares, Inc. has a 1 year low of $31.03 and a 1 year high of $50.57. The stock has a fifty day moving average price of $40.84 and a two-hundred day moving average price of $43.13.

Live Oak Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.03 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. Live Oak Bancshares’s dividend payout ratio is presently 8.28%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler cut their target price on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Truist Financial cut their price target on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $44.00 price objective (down from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th.

Insider Buying and Selling

In other news, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total transaction of $616,812.00. Following the transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at $686,735. This represents a 47.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 23.90% of the company’s stock.

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.