Live Oak Bancshares (NASDAQ:LOB) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Live Oak Bancshares (NASDAQ:LOB) from a hold rating to a sell rating in a report published on Friday.

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $44.00 target price (down previously from $48.00) on shares of Live Oak Bancshares in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.75.

Live Oak Bancshares Stock Down 4.1 %

NASDAQ LOB opened at $26.55 on Friday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 18.31 and a beta of 1.69. Live Oak Bancshares has a twelve month low of $26.34 and a twelve month high of $50.57. The stock has a fifty day simple moving average of $32.26 and a 200 day simple moving average of $40.15.

Live Oak Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio is 8.28%.

Hedge Funds Weigh In On Live Oak Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new position in shares of Live Oak Bancshares during the 4th quarter valued at $27,000. Quarry LP increased its stake in Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after purchasing an additional 354 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Live Oak Bancshares during the fourth quarter valued at about $71,000. Principal Securities Inc. boosted its position 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 worth $119,000 after purchasing an additional 1,498 shares in the last quarter. Finally, FMR LLC grew its stake 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 buying an additional 568 shares during the period. 63.95% of the stock is currently 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.