Live Oak Bancshares (NASDAQ:LOB) Sees Strong Trading Volume – Here’s Why

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) saw unusually-high trading volume on Monday . Approximately 497,437 shares changed hands during trading, an increase of 158% from the previous session’s volume of 192,453 shares.The stock last traded at $27.85 and had previously closed at $27.34.

Analysts Set New Price Targets

Several research firms have commented on LOB. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $44.00 target price (down from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. StockNews.com raised shares of Live Oak Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.75.

Live Oak Bancshares Price Performance

The firm has a market capitalization of $1.25 billion, a P/E ratio of 19.10 and a beta of 1.69. The company has a fifty day moving average of $33.47 and a 200 day moving average of $40.65.

Live Oak Bancshares Dividend Announcement

The firm also recently declared 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 dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, February 25th. Live Oak Bancshares’s payout ratio is 8.28%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Live Oak Bancshares in the fourth quarter valued at $27,000. Quarry LP raised its stake in shares of Live Oak Bancshares by 98.6% in the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after purchasing an additional 354 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Live Oak Bancshares in the fourth quarter valued at approximately $71,000. Principal Securities Inc. boosted its holdings in Live Oak Bancshares by 99.7% during the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock worth $119,000 after purchasing an additional 1,498 shares during the last quarter. Finally, FMR LLC boosted 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 worth $207,000 after buying an additional 568 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

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.