Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 36.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,370 shares of the bank’s stock after buying an additional 2,248 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Live Oak Bancshares were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LOB. Allspring Global Investments Holdings LLC increased its position in shares of Live Oak Bancshares by 66.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,386 shares of the bank’s stock valued at $40,000 after acquiring an additional 551 shares during the last quarter. Blue Trust Inc. increased its position in shares of Live Oak Bancshares by 1,127.6% during the 4th quarter. Blue Trust Inc. now owns 2,136 shares of the bank’s stock valued at $97,000 after purchasing an additional 1,962 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of Live Oak Bancshares by 34.8% during the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the bank’s stock worth $136,000 after purchasing an additional 775 shares during the period. Arbor Investment Advisors LLC purchased a new position in shares of Live Oak Bancshares in the 4th quarter worth about $211,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Live Oak Bancshares by 45.8% in the 3rd quarter. Quantbot Technologies LP now owns 7,637 shares of the bank’s stock worth $221,000 after buying an additional 2,398 shares during the last quarter. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Trading Up 1.5 %

Shares of LOB stock opened at $35.32 on Friday. The firm’s 50 day moving average is $38.56 and its 200 day moving average is $37.57. The stock has a market capitalization of $1.58 billion, a P/E ratio of 17.75 and a beta of 1.63. Live Oak Bancshares, Inc. has a 12 month low of $19.53 and a 12 month high of $47.22.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, February 26th. Live Oak Bancshares’s payout ratio is presently 6.03%.

Analysts Set New Price Targets

Several analysts have commented on the stock. TheStreet lowered shares of Live Oak Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Truist Financial dropped their price objective on Live Oak Bancshares from $47.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 target price (down from $45.00) on shares of Live Oak Bancshares in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Hold” and an average price target of $38.00.

Insider Activity at Live Oak Bancshares

In other Live Oak Bancshares news, Director Miltom Emmett Petty sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $39.73, for a total value of $397,300.00. Following the sale, the director now directly owns 121,941 shares in the company, valued at approximately $4,844,715.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Micah S. Davis sold 8,613 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now owns 43,864 shares in the company, valued at approximately $1,748,857.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Miltom Emmett Petty sold 10,000 shares of Live Oak Bancshares stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $39.73, for a total transaction of $397,300.00. Following the sale, the director now directly owns 121,941 shares of the company’s stock, valued at $4,844,715.93. The disclosure for this sale can be found here. 23.90% of the stock is owned by corporate insiders.

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.