Live Oak Bancshares (NASDAQ:LOB) Sets New 1-Year Low – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LOB. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $44.00 price objective (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. StockNews.com upgraded Live Oak Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $44.75.

Live Oak Bancshares Trading Down 0.0 %

The stock has a market cap of $1.24 billion, a P/E ratio of 18.89 and a beta of 1.69. The company’s fifty day simple moving average is $33.47 and its 200-day simple moving average is $40.68.

Live Oak Bancshares Announces Dividend

The business also recently disclosed 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. 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 0.44%. Live Oak Bancshares’s payout ratio is presently 8.28%.

Institutional Trading of Live Oak Bancshares

Several hedge funds have recently modified their holdings of the company. 49 Wealth Management LLC increased its holdings in Live Oak Bancshares by 2.1% during the 3rd quarter. 49 Wealth Management LLC now owns 10,212 shares of the bank’s stock valued at $484,000 after purchasing an additional 212 shares in the last quarter. Invesco Ltd. increased its stake in shares of 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 buying an additional 298 shares in the last quarter. Quarry LP raised 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 valued at $34,000 after buying an additional 354 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in 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 buying an additional 356 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Live Oak Bancshares by 7.1% during the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock worth $237,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.