Allegiance Financial Group Advisory Services LLC Has $250,000 Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Allegiance Financial Group Advisory Services LLC increased its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,313 shares of the bank’s stock after acquiring an additional 940 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Live Oak Bancshares were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning boosted its position in Live Oak Bancshares by 36.5% in 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. Raymond James & Associates raised its stake in shares of Live Oak Bancshares by 4.7% during the 3rd quarter. Raymond James & Associates now owns 95,483 shares of the bank’s stock valued at $4,523,000 after purchasing an additional 4,271 shares during the period. abrdn plc bought a new position in Live Oak Bancshares in the 3rd quarter worth about $14,501,000. New York State Teachers Retirement System increased its stake in Live Oak Bancshares by 161.4% in the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock worth $150,000 after acquiring an additional 1,954 shares during the last quarter. Finally, US Bancorp DE increased its stake in Live Oak Bancshares by 136.0% in the 3rd quarter. US Bancorp DE now owns 8,134 shares of the bank’s stock worth $385,000 after acquiring an additional 4,687 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Live Oak Bancshares Price Performance

Shares of LOB stock opened at $31.58 on Thursday. Live Oak Bancshares, Inc. has a 1-year low of $31.03 and a 1-year high of $50.57. The business has a 50-day moving average of $36.88 and a 200 day moving average of $42.13. The stock has a market capitalization of $1.43 billion, a PE ratio of 21.78 and a beta of 1.67.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 8.28%.

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.