Victory Capital Management Inc. Lowers Holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Victory Capital Management Inc. decreased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 44.1% during the third quarter, HoldingsChannel.com reports. The fund owned 32,234 shares of the bank’s stock after selling 25,474 shares during the quarter. Victory Capital Management Inc.’s holdings in Live Oak Bancshares were worth $1,527,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Quest Partners LLC grew its holdings in shares of Live Oak Bancshares by 68.4% in the second quarter. Quest Partners LLC now owns 2,026 shares of the bank’s stock worth $71,000 after purchasing an additional 823 shares during the last quarter. nVerses Capital LLC raised its stake in Live Oak Bancshares by 87.5% in the 3rd quarter. nVerses Capital LLC now owns 1,500 shares of the bank’s stock worth $71,000 after acquiring an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Live Oak Bancshares by 1,885.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the bank’s stock worth $81,000 after buying an additional 2,206 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Live Oak Bancshares during the first quarter valued at $129,000. Finally, New York State Teachers Retirement System lifted its holdings in shares of Live Oak Bancshares by 161.4% in the 3rd quarter. New York State Teachers Retirement System now owns 3,165 shares of the bank’s stock valued at $150,000 after buying an additional 1,954 shares during the period. Institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Stock Up 2.0 %

NASDAQ:LOB opened at $48.71 on Tuesday. The company 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 52 week low of $31.03 and a 52 week high of $50.57. The stock’s fifty day moving average is $46.30 and its two-hundred day moving average is $40.85.

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

Live Oak Bancshares Dividend Announcement

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

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron bought 1,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was bought at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the transaction, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. The trade was a 0.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of Live Oak Bancshares 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 sale, the chief accounting officer now owns 14,015 shares of the company’s stock, valued at approximately $686,735. This represents a 47.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LOB. Truist Financial dropped their target price on Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Piper Sandler dropped their target price on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and a consensus target price of $45.50.

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.