Live Oak Bancshares (NASDAQ:LOB) Hits New 1-Year Low – Here’s Why

Live Oak Bancshares, Inc. (NASDAQ:LOB) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $26.34 and last traded at $26.49, with a volume of 130598 shares trading hands. The stock had previously closed at $27.69.

Wall Street Analysts Forecast Growth

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

Live Oak Bancshares Price Performance

The stock has a market capitalization of $1.20 billion, a P/E ratio of 18.31 and a beta of 1.69. The stock has a fifty day moving average price of $32.54 and a 200 day moving average price of $40.28.

Live Oak Bancshares Dividend Announcement

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

Hedge Funds Weigh In On Live Oak Bancshares

Large investors have recently modified their holdings of the company. Invesco Ltd. increased its holdings in Live Oak Bancshares by 0.6% during the 4th quarter. Invesco Ltd. now owns 50,720 shares of the bank’s stock worth $2,006,000 after acquiring an additional 298 shares during the period. Quarry LP grew 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 valued at $34,000 after purchasing an additional 354 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Live Oak Bancshares by 3.5% in the fourth 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 period. Handelsbanken Fonder AB raised its position in shares of Live Oak Bancshares by 7.1% in the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock worth $237,000 after buying an additional 400 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its stake in Live Oak Bancshares by 7.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank’s stock valued at $221,000 after buying an additional 407 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.