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

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced 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 dividend on an annualized basis 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. Equities 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 Stock Performance

Shares of NASDAQ:LOB opened at $46.05 on Wednesday. The company’s fifty day moving average is $46.08 and its two-hundred day moving average is $40.60. Live Oak Bancshares has a 1-year low of $31.03 and a 1-year high of $50.57. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 28.96 and a beta of 1.63.

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 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 company had revenue of $241.87 million for the quarter, compared to the consensus estimate of $126.63 million. During the same quarter last year, the firm posted $0.88 earnings per share. Sell-side analysts expect that Live Oak Bancshares will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on LOB shares. Piper Sandler lowered their target price on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Truist Financial dropped their price objective on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $47.00 target price (up previously from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.50.

Insider Buying and Selling

In other news, Director William Henderson Cameron acquired 1,000 shares of Live Oak Bancshares stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average price of $39.76 per share, with a total value of $39,760.00. Following the purchase, the director now directly owns 202,217 shares of the company’s stock, valued at $8,040,147.92. The trade was a 0.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.00, for a total transaction of $860,000.00. Following the completion of the sale, the chief accounting officer now directly owns 26,603 shares of the company’s stock, valued at $1,143,929. The trade was a 42.92 % decrease in their position. The disclosure for this sale can be found here. 23.90% of the stock is currently owned by corporate 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.