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

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced a quarterly dividend on Tuesday, February 11th,NASDAQ Dividends reports. Shareholders of record on Tuesday, February 25th will be paid a dividend of 0.03 per share by the bank on Tuesday, March 11th. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Tuesday, February 25th.

Live Oak Bancshares has a dividend payout ratio of 3.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Live Oak Bancshares to earn $3.39 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 3.5%.

Live Oak Bancshares Stock Performance

Shares of LOB traded down $1.37 during midday trading on Wednesday, hitting $34.85. 213,629 shares of the company traded hands, compared to its average volume of 198,362. The firm has a 50 day moving average of $39.38 and a 200-day moving average of $42.79. Live Oak Bancshares has a 52 week low of $31.03 and a 52 week high of $50.57. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 24.03 and a beta of 1.67.

Analyst Ratings Changes

LOB has been the subject of several research reports. Piper Sandler dropped their price objective 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. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $44.00 price objective (down previously from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. Finally, Truist Financial lowered 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.

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.