Victory Capital Management Inc. Has $2.79 Million Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Victory Capital Management Inc. raised its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 101.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,368 shares of the bank's stock after buying an additional 30,871 shares during the period. Victory Capital Management Inc. owned about 0.14% of Live Oak Bancshares worth $2,792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of LOB. Vanguard Group Inc. grew its stake in shares of Live Oak Bancshares by 0.6% during the third quarter. Vanguard Group Inc. now owns 2,481,557 shares of the bank's stock worth $71,841,000 after purchasing an additional 15,863 shares in the last quarter. Trust Co of the South purchased a new stake in Live Oak Bancshares during the fourth quarter worth approximately $15,042,000. American Century Companies Inc. boosted its holdings in Live Oak Bancshares by 1.6% in the third quarter. American Century Companies Inc. now owns 287,714 shares of the bank's stock valued at $8,329,000 after purchasing an additional 4,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Live Oak Bancshares by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 256,252 shares of the bank's stock worth $7,418,000 after purchasing an additional 6,066 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Live Oak Bancshares by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 197,185 shares of the bank's stock worth $5,708,000 after purchasing an additional 2,721 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Live Oak Bancshares news, insider Micah S. Davis sold 8,613 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.87, for a total value of $343,400.31. Following the transaction, the insider now directly owns 43,864 shares of the company's stock, valued at approximately $1,748,857.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Tonya Williams Bradford sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $35.97, for a total value of $93,522.00. Following the completion of the sale, the director now directly owns 5,870 shares of the company's stock, valued at approximately $211,143.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Micah S. Davis sold 8,613 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $39.87, for a total transaction of $343,400.31. Following the sale, the insider now owns 43,864 shares in the company, valued at $1,748,857.68. The disclosure for this sale can be found here. Insiders sold a total of 21,213 shares of company stock valued at $834,222 over the last three months. 23.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOB. Truist Financial decreased their price objective on shares of Live Oak Bancshares from $47.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, April 26th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $40.00 price target (down previously from $45.00) on shares of Live Oak Bancshares in a research note on Friday, April 26th. Finally, TheStreet cut Live Oak Bancshares from a "b-" rating to a "c+" rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $38.00.

Live Oak Bancshares Trading Up 1.6 %

Shares of LOB traded up $0.57 during mid-day trading on Friday, hitting $36.78. 119,225 shares of the company's stock were exchanged, compared to its average volume of 164,115. The firm has a market capitalization of $1.65 billion, a P/E ratio of 18.48 and a beta of 1.63. Live Oak Bancshares, Inc. has a fifty-two week low of $21.55 and a fifty-two week high of $47.22. The business's 50 day moving average is $37.78 and its two-hundred day moving average is $38.10.

Live Oak Bancshares (NASDAQ:LOB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.12). The company had revenue of $116.21 million for the quarter, compared to analyst estimates of $118.89 million. Live Oak Bancshares had a return on equity of 10.25% and a net margin of 10.62%. On average, equities research analysts forecast that Live Oak Bancshares, Inc. will post 1.99 earnings per share for the current year.

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.