Live Oak Bancshares (NASDAQ:LOB) Shares Down 4.5% - What's Next?

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) shares dropped 4.5% during trading on Wednesday . The stock traded as low as $26.92 and last traded at $27.02. Approximately 143,170 shares traded hands during trading, a decline of 22% from the average daily volume of 184,718 shares. The stock had previously closed at $28.29.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and set a $44.00 price objective (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. StockNews.com upgraded 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 assigned a buy rating to the company. According to MarketBeat, Live Oak Bancshares currently has a consensus rating of "Hold" and an average target price of $44.75.

Live Oak Bancshares Stock Down 0.0 %

The business's 50 day simple moving average is $33.47 and its 200-day simple moving average is $40.65. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 18.89 and a beta of 1.69.

Live Oak Bancshares Announces Dividend

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

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Institutional Investors Weigh In On Live Oak Bancshares

A number of institutional investors have recently made changes to their positions in LOB. Picton Mahoney Asset Management acquired a new stake in shares of Live Oak Bancshares in the 4th quarter valued at about $27,000. Quarry LP grew its stake in Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank's stock valued at $34,000 after acquiring an additional 354 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Live Oak Bancshares in the fourth quarter valued at approximately $71,000. Principal Securities Inc. increased its stake in Live Oak Bancshares by 99.7% in the fourth quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock valued at $119,000 after acquiring an additional 1,498 shares during the last quarter. Finally, FMR LLC boosted its stake in Live Oak Bancshares by 15.0% in the third quarter. FMR LLC now owns 4,364 shares of the bank's stock worth $207,000 after buying an additional 568 shares in the last quarter. 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.