Banc Funds Co. LLC Sells 428 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Banc Funds Co. LLC lessened its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,322 shares of the bank’s stock after selling 428 shares during the quarter. Banc Funds Co. LLC’s holdings in Live Oak Bancshares were worth $487,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in Live Oak Bancshares during the 4th quarter valued at $27,000. Venturi Wealth Management LLC bought a new position in shares of Live Oak Bancshares during the fourth quarter valued at about $71,000. Principal Securities Inc. boosted its holdings in Live Oak Bancshares by 99.7% during the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock worth $119,000 after purchasing an additional 1,498 shares during the last quarter. FMR LLC grew its position in Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after purchasing an additional 568 shares in the last quarter. Finally, Synovus Financial Corp purchased a new stake in Live Oak Bancshares in the 3rd quarter valued at about $261,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Trading Down 0.0 %

Shares of NASDAQ LOB opened at $23.87 on Thursday. The stock has a fifty day simple moving average of $28.70 and a two-hundred day simple moving average of $37.96. 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 $1.09 billion, a price-to-earnings ratio of 16.46 and a beta of 1.75.

Live Oak Bancshares Dividend Announcement

The company 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 0.50%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio is currently 8.28%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LOB. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $44.00 target price (down previously from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. StockNews.com cut Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.75.

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.