Live Oak Bancshares, Inc. (LOB) to Issue Quarterly Dividend of $0.03 on December 16th

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

Live Oak Bancshares has a dividend payout ratio of 4.5% indicating that 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 Stock Performance

Shares of Live Oak Bancshares stock opened at $46.05 on Wednesday. The firm’s 50-day simple moving average is $46.08 and its 200-day simple moving average is $40.60. Live Oak Bancshares has a twelve month low of $31.03 and a twelve month high of $50.57. The firm has a market cap of $2.08 billion, a P/E ratio of 28.96 and a beta of 1.63.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.28 earnings per share (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 firm 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 business earned $0.88 EPS. On average, equities analysts forecast that Live Oak Bancshares will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron bought 1,000 shares of Live Oak Bancshares stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average price of $39.76 per share, with a total value of $39,760.00. Following the completion of the acquisition, the director now directly owns 202,217 shares in the company, valued at approximately $8,040,147.92. This trade represents a 0.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John W. Sutherland sold 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 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 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.