Live Oak Bancshares (NASDAQ:LOB) Reaches New 12-Month Low – Time to Sell?

Live Oak Bancshares, Inc. (NASDAQ:LOB) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $30.28 and last traded at $30.67, with a volume of 14543 shares trading hands. The stock had previously closed at $31.21.

Analyst Upgrades and Downgrades

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

Live Oak Bancshares Stock Performance

The firm has a market capitalization of $1.36 billion, a PE ratio of 20.82 and a beta of 1.67. The firm has a fifty day moving average of $36.59 and a 200 day moving average of $42.05.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.40%. Live Oak Bancshares’s dividend payout ratio (DPR) is 8.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOB. 49 Wealth Management LLC lifted its holdings in shares of Live Oak Bancshares by 2.1% in the third quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after buying an additional 212 shares during the period. Invesco Ltd. increased its position in Live Oak Bancshares by 0.6% in the 4th quarter. Invesco Ltd. now owns 50,720 shares of the bank’s stock worth $2,006,000 after purchasing an additional 298 shares during the last quarter. Quarry LP increased its position in Live Oak Bancshares by 98.6% in the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after purchasing an additional 354 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Live Oak Bancshares by 3.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank’s stock worth $411,000 after purchasing an additional 356 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Live Oak Bancshares by 7.1% in the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock worth $237,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.