abrdn plc Has $13.32 Million Stock Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

abrdn plc boosted its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,721 shares of the bank’s stock after purchasing an additional 30,597 shares during the period. abrdn plc owned about 0.75% of Live Oak Bancshares worth $13,324,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp bought a new position in shares of Live Oak Bancshares in the 2nd quarter valued at $312,000. SG Americas Securities LLC increased its holdings in Live Oak Bancshares by 127.5% in the 3rd quarter. SG Americas Securities LLC now owns 14,293 shares of the bank’s stock worth $677,000 after purchasing an additional 8,011 shares in the last quarter. Park Avenue Securities LLC bought a new position in Live Oak Bancshares in the third quarter valued at about $205,000. Handelsbanken Fonder AB acquired a new stake in shares of Live Oak Bancshares during the third quarter valued at about $265,000. Finally, Creative Planning grew its holdings in shares of Live Oak Bancshares by 36.5% during the third quarter. Creative Planning now owns 10,194 shares of the bank’s stock worth $483,000 after purchasing an additional 2,725 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Live Oak Bancshares Stock Performance

Shares of NASDAQ LOB opened at $35.26 on Friday. The company’s 50 day moving average price is $40.06 and its 200-day moving average price is $42.98. Live Oak Bancshares, Inc. has a 52-week low of $31.03 and a 52-week high of $50.57. The company has a market capitalization of $1.59 billion, a P/E ratio of 24.32 and a beta of 1.67.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 8.28%.

Insiders Place Their Bets

In related news, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction on 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 of the company’s stock, valued at $686,735. This represents a 47.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.