Live Oak Bancshares (NASDAQ:LOB) Sees Strong Trading Volume – Here’s Why

Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) saw unusually-high trading volume on Monday . Approximately 497,437 shares traded hands during mid-day trading, an increase of 158% from the previous session’s volume of 192,453 shares.The stock last traded at $27.85 and had previously closed at $27.34.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. 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. StockNews.com raised Live Oak Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.75.

Live Oak Bancshares Stock Performance

The firm’s 50-day moving average is $33.47 and its 200 day moving average is $40.65. The firm has a market capitalization of $1.25 billion, a P/E ratio of 19.10 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. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.43%. Live Oak Bancshares’s dividend payout ratio is currently 8.28%.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOB. Capital International Investors increased its holdings in Live Oak Bancshares by 75.8% during the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank’s stock worth $80,749,000 after buying an additional 880,530 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Live Oak Bancshares during the fourth quarter worth approximately $5,277,000. State Street Corp boosted its holdings in shares of 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 acquiring an additional 131,343 shares during the period. AmeriServ Wealth Advisors bought a new stake in shares of Live Oak Bancshares during the fourth quarter worth approximately $4,443,000. Finally, Norges Bank acquired a new stake in Live Oak Bancshares during the 4th quarter worth approximately $4,056,000. 63.95% of the stock is 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.