Live Oak Bancshares (NASDAQ:LOB) Hits New 52-Week Low at $27.00

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB – Get Rating) reached a new 52-week low during trading on Monday . The stock traded as low as $27.00 and last traded at $27.00, with a volume of 621 shares. The stock had previously closed at $28.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LOB shares. JPMorgan Chase & Co. cut shares of Live Oak Bancshares from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $34.00 to $30.00 in a research report on Tuesday, December 13th. StockNews.com lowered Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 22nd. Raymond James assumed coverage on Live Oak Bancshares in a report on Monday, February 27th. They set a “market perform” rating on the stock. Finally, Truist Financial lowered their target price on Live Oak Bancshares from $38.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and a consensus target price of $39.25.

Live Oak Bancshares Price Performance

The company has a market cap of $1.06 billion, a PE ratio of 6.10 and a beta of 1.49. The business has a fifty day simple moving average of $33.02 and a two-hundred day simple moving average of $32.72.

Live Oak Bancshares (NASDAQ:LOB – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The bank reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.36). The company had revenue of $104.97 million for the quarter, compared to the consensus estimate of $111.56 million. Live Oak Bancshares had a net margin of 25.82% and a return on equity of 22.60%. On average, equities research analysts predict that Live Oak Bancshares, Inc. will post 2.06 EPS for the current year.

Live Oak Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 14th. Investors of record on Tuesday, February 28th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.12 annualized dividend and a dividend yield of 0.50%. Live Oak Bancshares’s dividend payout ratio (DPR) is presently 3.06%.

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron bought 1,000 shares of Live Oak Bancshares stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average cost of $30.45 per share, with a total value of $30,450.00. Following the transaction, the director now directly owns 167,217 shares of the company’s stock, valued at approximately $5,091,757.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Guardian Wealth Advisors LLC acquired a new position in shares of Live Oak Bancshares in the 3rd quarter valued at $46,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Live Oak Bancshares by 49.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,530 shares of the bank’s stock valued at $46,000 after purchasing an additional 508 shares during the period. Whittier Trust Co. purchased a new position in shares of Live Oak Bancshares in the third quarter worth about $50,000. Great West Life Assurance Co. Can purchased a new position in shares of Live Oak Bancshares in the third quarter worth about $55,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Live Oak Bancshares during the third quarter worth about $61,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Company Profile

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Live Oak Bancshares, Inc is a bank holding company for Live Oak Banking Company, which operates as a national online platform for small business lending. It operates through the following segments: Banking, Fintech, and Other. The Banking segment provides financing services to small businesses nationwide in targeted industries and deposit-related services to small businesses, consumers, and other customers nationwide.