Live Oak Bancshares (NASDAQ:LOB) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Live Oak Bancshares (NASDAQ:LOB) from a sell rating to a hold rating in a report issued on Thursday morning.

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $44.00 price objective (down previously from $48.00) on shares of Live Oak Bancshares in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.75.

Live Oak Bancshares Trading Down 0.6 %

LOB opened at $27.37 on Thursday. The company’s 50 day moving average is $33.65 and its 200 day moving average is $40.79. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 18.88 and a beta of 1.69. Live Oak Bancshares has a 12-month low of $26.50 and a 12-month high of $50.57.

Live Oak Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%. Live Oak Bancshares’s payout ratio is currently 8.28%.

Institutional Trading of Live Oak Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in Live Oak Bancshares in the 4th quarter worth $27,000. Quarry LP grew its position in shares of Live Oak Bancshares by 98.6% during the third quarter. Quarry LP now owns 713 shares of the bank’s stock worth $34,000 after purchasing an additional 354 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Live Oak Bancshares during the 4th quarter valued at approximately $71,000. Principal Securities Inc. lifted its holdings in Live Oak Bancshares by 99.7% in the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock worth $119,000 after purchasing an additional 1,498 shares in the last quarter. Finally, FMR LLC boosted its stake in Live Oak Bancshares by 15.0% in the 3rd quarter. FMR LLC now owns 4,364 shares of the bank’s stock worth $207,000 after purchasing an additional 568 shares during the period. 63.95% of the stock is currently owned by institutional investors.

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.