Picton Mahoney Asset Management Makes New Investment in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Picton Mahoney Asset Management acquired a new position in Live Oak Bancshares, Inc. (NASDAQ:LOB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 686 shares of the bank’s stock, valued at approximately $27,000.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Live Oak Bancshares by 13.4% during the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock valued at $52,553,000 after acquiring an additional 131,343 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Live Oak Bancshares by 1.8% during the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock valued at $36,658,000 after acquiring an additional 13,824 shares in the last quarter. abrdn plc raised its stake in shares of Live Oak Bancshares by 10.0% during the fourth quarter. abrdn plc now owns 336,721 shares of the bank’s stock valued at $13,324,000 after acquiring an additional 30,597 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Live Oak Bancshares by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,002 shares of the bank’s stock valued at $11,232,000 after acquiring an additional 5,181 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Live Oak Bancshares by 3.6% during the third quarter. Loomis Sayles & Co. L P now owns 221,263 shares of the bank’s stock valued at $10,481,000 after acquiring an additional 7,662 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $44.00 price target (down previously from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th.

Live Oak Bancshares Stock Down 0.9 %

Shares of LOB stock opened at $28.36 on Tuesday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 19.56 and a beta of 1.69. The company’s 50 day moving average is $34.30 and its 200 day moving average is $41.08. Live Oak Bancshares, Inc. has a 52-week low of $27.57 and a 52-week high of $50.57.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.42%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares’s payout ratio is 8.28%.

Live Oak Bancshares Company 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.