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

Live Oak Bancshares, Inc. (NASDAQ:LOB) declared a quarterly dividend on Monday, November 18th,NASDAQ Dividends reports. Stockholders 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 dividend yield of 0.26%. The ex-dividend date of this dividend is Monday, December 2nd.

Live Oak Bancshares has a dividend payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Live Oak Bancshares to earn $2.59 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 4.6%.

Live Oak Bancshares Price Performance

NASDAQ:LOB traded down $1.73 during trading hours on Tuesday, reaching $46.05. The company’s stock had a trading volume of 256,622 shares, compared to its average volume of 184,570. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 30.12 and a beta of 1.63. Live Oak Bancshares has a one year low of $31.03 and a one year high of $50.57. The business’s 50-day moving average is $45.99 and its 200-day moving average is $40.53.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Live Oak Bancshares had a return on equity of 7.65% and a net margin of 7.99%. The business had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, sell-side analysts predict that Live Oak Bancshares will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on LOB. Truist Financial decreased 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 report on Monday, October 28th. Piper Sandler decreased their price target on shares of Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price target (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.50.

Insider Activity

In related news, CAO John W. Sutherland sold 20,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the transaction, the chief accounting officer now owns 26,603 shares of the company’s stock, valued at $1,143,929. This represents a 42.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Henderson Cameron purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average cost of $39.76 per share, with a total value of $39,760.00. Following the transaction, the director now directly owns 202,217 shares of the company’s stock, valued at approximately $8,040,147.92. This represents a 0.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.90% of the stock is owned by company insiders.

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.