Live Oak Bancshares (NASDAQ:LOB) Hits New 12-Month Low – Time to Sell?

Live Oak Bancshares, Inc. (NASDAQ:LOB) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $26.34 and last traded at $26.49, with a volume of 130598 shares trading hands. The stock had previously closed at $27.69.

Analysts Set New Price Targets

Several research analysts have weighed in on LOB shares. StockNews.com downgraded shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Friday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $44.00 target price (down previously from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.75.

Live Oak Bancshares Stock Performance

The company’s 50 day moving average price is $32.54 and its 200-day moving average price is $40.28. The stock has a market cap of $1.20 billion, a P/E ratio of 18.31 and a beta of 1.69.

Live Oak Bancshares Announces Dividend

The firm also recently declared 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. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, February 25th. Live Oak Bancshares’s payout ratio is 8.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors increased its position in shares of Live Oak Bancshares by 75.8% during the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock valued at $80,749,000 after purchasing an additional 880,530 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Live Oak Bancshares during the fourth quarter worth about $5,277,000. State Street Corp increased its holdings 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 last quarter. AmeriServ Wealth Advisors bought a new stake in Live Oak Bancshares in the fourth quarter worth about $4,443,000. Finally, Norges Bank purchased a new position in Live Oak Bancshares in the fourth quarter valued at about $4,056,000. Hedge funds and other 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.