Live Oak Bancshares (NASDAQ:LOB) Hits New 12-Month Low – What’s Next?

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s share price hit a new 52-week low on Thursday . The company traded as low as $24.92 and last traded at $25.51, with a volume of 136609 shares changing hands. The stock had previously closed at $27.28.

Analyst Ratings Changes

Several research firms have issued reports on LOB. StockNews.com lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $44.00 price target (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.75.

Live Oak Bancshares Trading Down 9.5 %

The business’s fifty day moving average price is $31.43 and its 200 day moving average price is $39.82. The company has a market capitalization of $1.12 billion, a P/E ratio of 17.03 and a beta of 1.69.

Live Oak Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.49%. Live Oak Bancshares’s payout ratio is presently 8.28%.

Institutional Trading of Live Oak Bancshares

Several institutional investors have recently bought and sold shares of LOB. Picton Mahoney Asset Management bought a new position in shares of Live Oak Bancshares during the fourth quarter valued at $27,000. Quarry LP increased its position in shares of Live Oak Bancshares by 98.6% during the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after purchasing an additional 354 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Live Oak Bancshares during the 4th quarter valued at about $71,000. Principal Securities Inc. boosted its position in Live Oak Bancshares by 99.7% in the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock valued at $119,000 after buying an additional 1,498 shares in the last quarter. Finally, FMR LLC grew its stake in Live Oak Bancshares by 15.0% during the third quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after buying an additional 568 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.