Victory Capital Management Inc. Has $1.53 Million Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Victory Capital Management Inc. lowered its stake in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 44.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,234 shares of the bank’s stock after selling 25,474 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Live Oak Bancshares worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. abrdn plc bought a new position in shares of Live Oak Bancshares during the third quarter valued at about $14,501,000. Blue Trust Inc. grew its stake in Live Oak Bancshares by 12,211.1% in the 2nd quarter. Blue Trust Inc. now owns 252,994 shares of the bank’s stock valued at $8,870,000 after buying an additional 250,939 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Live Oak Bancshares by 432.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 66,130 shares of the bank’s stock worth $2,319,000 after purchasing an additional 53,700 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Live Oak Bancshares by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,402,516 shares of the bank’s stock worth $49,169,000 after purchasing an additional 48,018 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Live Oak Bancshares during the 1st quarter valued at about $1,350,000. Institutional investors own 63.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LOB shares. Piper Sandler cut their price objective on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Truist Financial dropped their price target on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Live Oak Bancshares presently has a consensus rating of “Hold” and an average target price of $45.50.

Insider Buying and Selling at Live Oak Bancshares

In related news, Director William Henderson Cameron purchased 1,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the purchase, the director now directly owns 202,217 shares of the company’s stock, valued at $8,040,147.92. The trade was a 0.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO John W. Sutherland sold 12,588 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total value of $616,812.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,015 shares in the company, valued at $686,735. The trade was a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.90% of the company’s stock.

Live Oak Bancshares Stock Up 2.0 %

Shares of LOB opened at $48.71 on Tuesday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 30.62 and a beta of 1.63. Live Oak Bancshares, Inc. has a twelve month low of $31.03 and a twelve month high of $50.57. The firm has a fifty day simple moving average of $46.30 and a two-hundred day simple moving average of $40.85.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). The company had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. During the same quarter last year, the company posted $0.88 earnings per share. Sell-side analysts expect that Live Oak Bancshares, Inc. will post 1.97 EPS for the current fiscal year.

Live Oak Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. Live Oak Bancshares’s payout ratio is 7.55%.

Live Oak Bancshares 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.