Live Oak Bancshares (NASDAQ:LOB) Sets New 52-Week Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Live Oak Bancshares Stock Down 4.1 %

The company’s fifty day moving average is $32.26 and its two-hundred day moving average is $40.16. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 18.31 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. Stockholders of record on Tuesday, February 25th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. Live Oak Bancshares’s dividend payout ratio (DPR) is currently 8.28%.

Hedge Funds Weigh In On Live Oak Bancshares

Several large investors have recently bought and sold shares of LOB. Intech Investment Management LLC acquired a new position in shares of Live Oak Bancshares during the 3rd quarter worth about $317,000. Charles Schwab Investment Management Inc. lifted its stake in Live Oak Bancshares by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 278,821 shares of the bank’s stock worth $13,208,000 after purchasing an additional 8,116 shares during the last quarter. FMR LLC boosted its holdings in Live Oak Bancshares by 15.0% in the third quarter. FMR LLC now owns 4,364 shares of the bank’s stock valued at $207,000 after purchasing an additional 568 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Live Oak Bancshares by 53.4% in the third quarter. BNP Paribas Financial Markets now owns 25,054 shares of the bank’s stock valued at $1,187,000 after purchasing an additional 8,726 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Live Oak Bancshares by 62.8% during the third quarter. Benjamin Edwards Inc. now owns 7,717 shares of the bank’s stock worth $366,000 after purchasing an additional 2,977 shares in the last quarter. Hedge funds and other 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.