Live Oak Bancshares (NASDAQ:LOB) Reaches New 12-Month Low – Time to Sell?

Live Oak Bancshares, Inc. (NASDAQ:LOB)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $30.28 and last traded at $30.67, with a volume of 14543 shares trading hands. The stock had previously closed at $31.21.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $44.00 price target (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th.

Live Oak Bancshares Stock Down 3.5 %

The stock’s 50 day moving average is $36.59 and its two-hundred day moving average is $42.05. The company has a market capitalization of $1.36 billion, a PE ratio of 20.82 and a beta of 1.67.

Live Oak Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, February 25th. Live Oak Bancshares’s payout ratio is currently 8.28%.

Institutional Investors Weigh In On Live Oak Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in LOB. Capital International Investors lifted its holdings in Live Oak Bancshares by 75.8% in the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock valued at $80,749,000 after purchasing an additional 880,530 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Live Oak Bancshares during the fourth quarter worth about $5,277,000. State Street Corp increased its stake in Live Oak Bancshares by 13.4% during the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock worth $52,553,000 after purchasing an additional 131,343 shares during the period. AmeriServ Wealth Advisors purchased a new stake in Live Oak Bancshares during the fourth quarter worth about $4,443,000. Finally, Norges Bank purchased a new stake in Live Oak Bancshares during the fourth quarter worth about $4,056,000. 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.