Live Oak Bancshares (NASDAQ:LOB) Sets New 52-Week Low – Here’s Why

Live Oak Bancshares, Inc. (NASDAQ:LOB) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.80 and last traded at $23.10, with a volume of 614749 shares. The stock had previously closed at $23.58.

Wall Street Analysts Forecast Growth

LOB has been the topic of a number of research reports. StockNews.com lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued 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 analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.75.

Live Oak Bancshares Stock Performance

The stock’s fifty day simple moving average is $30.24 and its 200-day simple moving average is $38.95. The stock has a market cap of $1.05 billion, a P/E ratio of 15.93 and a beta of 1.75.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.52%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 8.28%.

Institutional Trading of Live Oak Bancshares

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in Live Oak Bancshares by 0.6% in the fourth quarter. Invesco Ltd. now owns 50,720 shares of the bank’s stock valued at $2,006,000 after purchasing an additional 298 shares in the last quarter. Quarry LP raised its position in shares of Live Oak Bancshares by 98.6% in the 3rd quarter. Quarry LP now owns 713 shares of the bank’s stock valued at $34,000 after buying an additional 354 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Live Oak Bancshares by 3.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank’s stock worth $411,000 after acquiring an additional 356 shares during the period. Handelsbanken Fonder AB increased its stake in Live Oak Bancshares by 7.1% in the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock valued at $237,000 after acquiring an additional 400 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its stake in Live Oak Bancshares by 7.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank’s stock valued at $221,000 after acquiring an additional 407 shares during the last quarter. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Company Profile

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.