Live Oak Bancshares (NASDAQ:LOB) Hits New 12-Month Low - Here's Why

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LOB shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $44.00 price target (down from $48.00) on shares of Live Oak Bancshares in a research 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $44.75.

Live Oak Bancshares Stock Down 0.0 %

The firm has a 50 day moving average of $33.47 and a 200-day moving average of $40.66. The company has a market cap of $1.24 billion, a P/E ratio of 18.89 and a beta of 1.69.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, February 25th. Live Oak Bancshares's payout ratio is 8.28%.

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Institutional Trading of Live Oak Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System raised its stake in Live Oak Bancshares by 5.0% in the fourth quarter. California State Teachers Retirement System now owns 33,580 shares of the bank's stock worth $1,328,000 after buying an additional 1,601 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Live Oak Bancshares by 1.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,152 shares of the bank's stock valued at $3,486,000 after purchasing an additional 1,322 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Live Oak Bancshares by 34.9% in the fourth quarter. Rafferty Asset Management LLC now owns 45,340 shares of the bank's stock valued at $1,793,000 after purchasing an additional 11,740 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Live Oak Bancshares in the fourth quarter worth about $2,931,000. Finally, Point72 Europe London LLP purchased a new stake in shares of Live Oak Bancshares during the fourth quarter valued at about $2,140,000. 63.95% of the stock is currently owned by institutional investors.

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.