Virtu Financial LLC Makes New $657,000 Investment in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Key Points

• Virtu Financial LLC has made a new investment in Live Oak Bancshares, acquiring 24,651 shares valued at approximately $657,000, which accounts for 0.05% of the company.
• Major institutional investors, including Citigroup Inc. and Deutsche Bank AG, have significantly increased their holdings in Live Oak Bancshares, with Citigroup boosting its position by 428.2%.
• The company also announced a quarterly dividend of $0.03 per share, reflecting an annualized dividend yield of 0.4% and a payout ratio of 9.84%.

Virtu Financial LLC bought a new position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,651 shares of the bank's stock, valued at approximately $657,000. Virtu Financial LLC owned 0.05% of Live Oak Bancshares at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Invesco Ltd. raised its position in shares of Live Oak Bancshares by 0.9% in the 1st quarter. Invesco Ltd. now owns 51,152 shares of the bank's stock worth $1,364,000 after buying an additional 432 shares during the period. Benjamin Edwards Inc. raised its position in shares of Live Oak Bancshares by 29.6% in the 1st quarter. Benjamin Edwards Inc. now owns 11,038 shares of the bank's stock worth $294,000 after buying an additional 2,522 shares during the period. Citigroup Inc. raised its position in shares of Live Oak Bancshares by 428.2% in the 1st quarter. Citigroup Inc. now owns 295,250 shares of the bank's stock worth $7,871,000 after buying an additional 239,356 shares during the period. CenterBook Partners LP raised its position in shares of Live Oak Bancshares by 49.2% in the 1st quarter. CenterBook Partners LP now owns 173,565 shares of the bank's stock worth $4,627,000 after buying an additional 57,217 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Live Oak Bancshares by 44.0% in the 1st quarter. Deutsche Bank AG now owns 123,840 shares of the bank's stock worth $3,302,000 after buying an additional 37,823 shares during the period. 63.95% of the stock is owned by hedge funds and other institutional investors.

Live Oak Bancshares Price Performance

Shares of Live Oak Bancshares stock opened at $33.27 on Wednesday. The business has a 50-day moving average of $30.73 and a 200-day moving average of $29.44. The company has a market capitalization of $1.52 billion, a PE ratio of 22.94 and a beta of 1.82. Live Oak Bancshares, Inc. has a 1-year low of $22.68 and a 1-year high of $50.57.

Live Oak Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Live Oak Bancshares's dividend payout ratio (DPR) is currently 9.84%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $37.00 price target (up from $36.00) on shares of Live Oak Bancshares in a report on Friday, July 25th.

Live Oak Bancshares Company 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.

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