Live Oak Bancshares (NASDAQ:LOB) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) saw an uptick in trading volume on Monday . 497,437 shares traded hands during mid-day trading, an increase of 158% from the previous session’s volume of 192,453 shares.The stock last traded at $27.85 and had previously closed at $27.34.

Analysts Set New Price Targets

LOB has been the topic of several recent research reports. StockNews.com upgraded Live Oak Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $44.00 price target (down from $48.00) on shares of Live Oak Bancshares in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares currently has a consensus rating of “Hold” and an average price target of $44.75.

Live Oak Bancshares Price Performance

The company has a market cap of $1.23 billion, a P/E ratio of 18.77 and a beta of 1.69. The stock has a 50-day moving average of $33.05 and a 200 day moving average of $40.46.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued 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 dividend yield of 0.44%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 8.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LOB. Invesco Ltd. boosted its stake in shares of Live Oak Bancshares by 0.6% in the 4th quarter. Invesco Ltd. now owns 50,720 shares of the bank’s stock valued at $2,006,000 after purchasing an additional 298 shares in the last quarter. Quarry LP raised its position in shares of Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after acquiring an additional 354 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Live Oak Bancshares by 3.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 10,392 shares of the bank’s stock worth $411,000 after acquiring an additional 356 shares during the period. Handelsbanken Fonder AB boosted its holdings in Live Oak Bancshares by 7.1% in the fourth quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock valued at $237,000 after acquiring an additional 400 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its position in Live Oak Bancshares by 7.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank’s stock valued at $221,000 after purchasing an additional 407 shares during the period. Institutional investors 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.