Live Oak Bancshares (NASDAQ:LOB) Sets New 1-Year Low - Here's What Happened

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $26.34 and last traded at $26.49, with a volume of 130598 shares traded. The stock had previously closed at $27.69.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a research report on Friday. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $44.00 target price (down previously from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Live Oak Bancshares has a consensus rating of "Hold" and a consensus target price of $44.75.

Live Oak Bancshares Price Performance

The firm has a market cap of $1.21 billion, a P/E ratio of 18.48 and a beta of 1.69. The firm's 50 day moving average is $31.70 and its 200 day moving average is $39.90.

Live Oak Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.03 dividend. 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 0.45%. Live Oak Bancshares's dividend payout ratio is currently 8.28%.

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Hedge Funds Weigh In On Live Oak Bancshares

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Live Oak Bancshares by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank's stock valued at $104,066,000 after purchasing an additional 10,213 shares in the last quarter. Capital International Investors increased its position in shares of Live Oak Bancshares by 75.8% during the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock valued at $80,749,000 after acquiring an additional 880,530 shares in the last quarter. State Street Corp raised its holdings in Live Oak Bancshares by 13.4% in the 3rd quarter. State Street Corp now owns 1,109,413 shares of the bank's stock worth $52,553,000 after acquiring an additional 131,343 shares during the last quarter. Southernsun Asset Management LLC lifted its position in Live Oak Bancshares by 10.3% in the 4th quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank's stock valued at $31,510,000 after acquiring an additional 74,193 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank's stock valued at $36,658,000 after acquiring an additional 13,824 shares in the last quarter. Hedge funds and other institutional investors 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.