Live Oak Bancshares (NASDAQ:LOB) Shares Down 4.5% – Here’s What Happened

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued 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.

Live Oak Bancshares Trading Down 4.1 %

The firm has a market cap of $1.23 billion, a P/E ratio of 18.71 and a beta of 1.69. The business’s 50-day moving average is $34.09 and its two-hundred day moving average is $40.97.

Live Oak Bancshares Announces Dividend

The business also recently announced 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. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, February 25th. Live Oak Bancshares’s dividend payout ratio is 8.28%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Live Oak Bancshares by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,631,256 shares of the bank’s stock worth $104,066,000 after purchasing an additional 10,213 shares during the period. Capital International Investors lifted its stake in Live Oak Bancshares by 75.8% in the 4th quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock worth $80,749,000 after acquiring an additional 880,530 shares in the last quarter. State Street Corp boosted 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 worth $52,553,000 after acquiring an additional 131,343 shares during the period. Southernsun Asset Management LLC grew its stake in Live Oak Bancshares by 10.3% during the 4th quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank’s stock valued at $31,510,000 after acquiring an additional 74,193 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Live Oak Bancshares by 1.8% in the third quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock worth $36,658,000 after purchasing an additional 13,824 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

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.