Howe & Rusling Inc. Has $358,000 Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Howe & Rusling Inc. lowered its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,858 shares of the bank’s stock after selling 1,127 shares during the period. Howe & Rusling Inc.’s holdings in Live Oak Bancshares were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Live Oak Bancshares by 101.2% in the fourth quarter. Victory Capital Management Inc. now owns 61,368 shares of the bank’s stock worth $2,792,000 after purchasing an additional 30,871 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Live Oak Bancshares by 3.7% in the fourth quarter. Russell Investments Group Ltd. now owns 116,648 shares of the bank’s stock worth $5,308,000 after purchasing an additional 4,153 shares during the period. New York State Common Retirement Fund increased its stake in shares of Live Oak Bancshares by 10.8% in the fourth quarter. New York State Common Retirement Fund now owns 14,490 shares of the bank’s stock worth $659,000 after purchasing an additional 1,415 shares during the period. Jennison Associates LLC bought a new position in shares of Live Oak Bancshares in the fourth quarter worth about $418,000. Finally, Duality Advisers LP bought a new position in Live Oak Bancshares during the fourth quarter valued at about $249,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

Insider Buying and Selling at Live Oak Bancshares

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

Live Oak Bancshares Trading Up 3.7 %

NASDAQ LOB opened at $33.52 on Thursday. The stock’s 50 day moving average is $38.73 and its two-hundred day moving average is $37.54. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.24 and a beta of 1.63. Live Oak Bancshares, Inc. has a 1-year low of $19.53 and a 1-year high of $47.22.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed 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 0.36%. The ex-dividend date was Monday, February 26th. Live Oak Bancshares’s payout ratio is 6.03%.

Wall Street Analysts Forecast Growth

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

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.