Live Oak Bancshares (NASDAQ:LOB) Sets New 12-Month Low – Here’s Why

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) reached a new 52-week low on Monday . The company traded as low as $28.26 and last traded at $28.55, with a volume of 2663 shares. The stock had previously closed at $28.96.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $44.00 price target (down previously from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th.

Live Oak Bancshares Stock Performance

The company has a 50-day moving average price of $35.64 and a 200-day moving average price of $41.68. The firm has a market capitalization of $1.28 billion, a P/E ratio of 19.54 and a beta of 1.69.

Live Oak Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio is 8.28%.

Institutional Investors Weigh In On Live Oak Bancshares

Large investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its position in Live Oak Bancshares by 75.8% during the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock worth $80,749,000 after purchasing an additional 880,530 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Live Oak Bancshares in the fourth quarter worth approximately $5,277,000. State Street Corp increased its position in Live Oak Bancshares by 13.4% during the 3rd quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock valued at $52,553,000 after purchasing an additional 131,343 shares during the period. AmeriServ Wealth Advisors bought a new position in Live Oak Bancshares during the fourth quarter worth $4,443,000. Finally, Norges Bank acquired a new position in shares of Live Oak Bancshares in the 4th quarter valued at about $4,056,000. Institutional investors and hedge funds 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.