Victory Capital Management Inc. Acquires 14,293 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Victory Capital Management Inc. grew its holdings in Live Oak Bancshares, Inc. (NASDAQ:LOB) by 44.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,527 shares of the bank’s stock after purchasing an additional 14,293 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Live Oak Bancshares worth $1,840,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Live Oak Bancshares by 13.4% in the third quarter. State Street Corp now owns 1,109,413 shares of the bank’s stock worth $52,553,000 after buying an additional 131,343 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Live Oak Bancshares by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 773,724 shares of the bank’s stock worth $36,658,000 after acquiring an additional 13,824 shares in the last quarter. abrdn plc lifted its stake in shares of Live Oak Bancshares by 10.0% during the 4th quarter. abrdn plc now owns 336,721 shares of the bank’s stock worth $13,324,000 after purchasing an additional 30,597 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Live Oak Bancshares by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,002 shares of the bank’s stock valued at $11,232,000 after purchasing an additional 5,181 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Live Oak Bancshares by 3.6% in the third quarter. Loomis Sayles & Co. L P now owns 221,263 shares of the bank’s stock valued at $10,481,000 after purchasing an additional 7,662 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Live Oak Bancshares Price Performance

Live Oak Bancshares stock opened at $28.36 on Tuesday. Live Oak Bancshares, Inc. has a 1-year low of $27.57 and a 1-year high of $50.57. The business has a fifty day moving average price of $34.30 and a 200-day moving average price of $41.08. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 19.56 and a beta of 1.69.

Live Oak Bancshares Dividend Announcement

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 of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. Live Oak Bancshares’s payout ratio is 8.28%.

Wall Street Analyst Weigh In

Separately, 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.

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.