Live Oak Bancshares (NASDAQ:LOB) Hits New 1-Year Low – Should You Sell?

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $26.50 and last traded at $27.63, with a volume of 1119944 shares traded. The stock had previously closed at $28.29.

Wall Street Analyst Weigh In

Several research firms have recently commented on LOB. StockNews.com raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $44.00 price objective (down from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.75.

Live Oak Bancshares Stock Down 0.0 %

The business has a fifty day moving average of $33.47 and a 200 day moving average of $40.68. The firm has a market cap of $1.24 billion, a P/E ratio of 18.89 and a beta of 1.69.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%. Live Oak Bancshares’s dividend payout ratio is 8.28%.

Hedge Funds Weigh In On Live Oak Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new stake in shares of Live Oak Bancshares in the 4th quarter valued at $27,000. Quarry LP increased its holdings in shares of Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after acquiring an additional 354 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Live Oak Bancshares during the fourth quarter worth about $71,000. Principal Securities Inc. lifted its holdings in shares of Live Oak Bancshares by 99.7% during the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock valued at $119,000 after purchasing an additional 1,498 shares in the last quarter. Finally, FMR LLC grew its position in shares of Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after purchasing an additional 568 shares during the period. 63.95% of the stock is owned by institutional investors.

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.