Live Oak Bancshares (NASDAQ:LOB) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Live Oak Bancshares (NASDAQ:LOB - Free Report) from a sell rating to a hold rating in a report released on Thursday.

Separately, Keefe, Bruyette & Woods restated 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Live Oak Bancshares presently has an average rating of "Hold" and a consensus price target of $44.75.

Live Oak Bancshares Stock Up 1.3 %

LOB traded up $0.35 during trading on Thursday, reaching $27.69. The company's stock had a trading volume of 1,235,118 shares, compared to its average volume of 195,361. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 19.10 and a beta of 1.69. The firm has a fifty day simple moving average of $33.28 and a two-hundred day simple moving average of $40.56. Live Oak Bancshares has a 1 year low of $26.50 and a 1 year high of $50.57.

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Live Oak Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares's dividend payout ratio is presently 8.28%.

Institutional Investors Weigh In On Live Oak Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Live Oak Bancshares by 0.4% in 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 during the last quarter. Capital International Investors lifted its position in Live Oak Bancshares by 75.8% in the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock valued at $80,749,000 after buying an additional 880,530 shares during the last quarter. State Street Corp boosted 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 buying an additional 131,343 shares during the period. Southernsun Asset Management LLC boosted its stake in Live Oak Bancshares by 10.3% during the fourth quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank's stock worth $31,510,000 after buying an additional 74,193 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Live Oak Bancshares by 1.8% during the third 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 during the last quarter. Institutional investors and hedge funds own 63.95% of the company's stock.

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.