Live Oak Bancshares, Inc. Plans Quarterly Dividend of $0.03 (NASDAQ:LOB)

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced a quarterly dividend on Monday, November 18th,NASDAQ Dividends reports. Investors of record on Monday, December 2nd will be given a dividend of 0.03 per share by the bank on Monday, December 16th. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Monday, December 2nd.

Live Oak Bancshares has a payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Live Oak Bancshares to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 4.7%.

Live Oak Bancshares Price Performance

Shares of NASDAQ LOB opened at $47.40 on Friday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 30.31 and a beta of 1.63. The stock’s fifty day moving average price is $46.31 and its two-hundred day moving average price is $41.14. Live Oak Bancshares has a one year low of $31.03 and a one year high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 EPS for the quarter, missing the consensus estimate 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 business had revenue of $241.87 million during the quarter, compared to analyst estimates of $126.63 million. During the same quarter last year, the company posted $0.88 earnings per share. On average, equities analysts anticipate that Live Oak Bancshares will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Henderson Cameron purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the purchase, the director now owns 202,217 shares in the company, valued at approximately $8,040,147.92. This represents a 0.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John W. Sutherland sold 12,588 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.00, for a total transaction 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 trade represents a 47.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.90% of the company’s stock.

Analyst Ratings Changes

LOB has been the subject of a number of analyst reports. Truist Financial dropped their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Piper Sandler dropped their price objective on 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.50.

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.