Victory Capital Management Inc. Reduces Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Victory Capital Management Inc. trimmed its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 44.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 32,234 shares of the bank's stock after selling 25,474 shares during the period. Victory Capital Management Inc. owned about 0.07% of Live Oak Bancshares worth $1,527,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. First Hawaiian Bank acquired a new position in Live Oak Bancshares in the 2nd quarter valued at about $542,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Live Oak Bancshares in the first quarter valued at approximately $1,350,000. Vanguard Group Inc. increased its stake in Live Oak Bancshares by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,536,094 shares of the bank's stock worth $105,273,000 after buying an additional 27,086 shares during the period. abrdn plc acquired a new stake in Live Oak Bancshares during the 3rd quarter worth approximately $14,501,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Live Oak Bancshares by 1.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,560,218 shares of the bank's stock valued at $54,701,000 after buying an additional 15,496 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Live Oak Bancshares Trading Down 0.4 %

Shares of LOB stock traded down $0.19 on Tuesday, reaching $48.49. 127,243 shares of the stock were exchanged, compared to its average volume of 185,008. Live Oak Bancshares, Inc. has a twelve month low of $31.03 and a twelve month high of $50.57. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 30.49 and a beta of 1.63. The business's 50 day moving average price is $46.34 and its 200 day moving average price is $40.95.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.25). The business had revenue of $241.87 million for the quarter, compared to analyst estimates 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 period last year, the business posted $0.88 EPS. Equities research analysts forecast that Live Oak Bancshares, Inc. will post 1.97 earnings per share for the current year.

Live Oak Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.03 per share. 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 dividend payout ratio is presently 7.55%.

Insider Activity

In other news, Director William Henderson Cameron purchased 1,000 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were bought at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the transaction, the director now directly owns 202,217 shares in the company, valued at approximately $8,040,147.92. This represents a 0.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total transaction of $616,812.00. Following the completion of the sale, the chief accounting officer now directly owns 14,015 shares of the company's stock, 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. Company insiders own 23.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on LOB shares. Truist Financial cut their price objective on Live Oak Bancshares from $57.00 to $46.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Piper Sandler reduced their price target on Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Live Oak Bancshares currently has an average rating of "Hold" and an average 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.