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

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 paid 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 is Monday, December 2nd.

Live Oak Bancshares has a 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 Down 3.6 %

Shares of NASDAQ:LOB traded down $1.73 during trading on Tuesday, hitting $46.05. The stock had a trading volume of 256,622 shares, compared to its average volume of 184,570. The company has a market capitalization of $2.08 billion, a PE ratio of 30.12 and a beta of 1.63. The firm’s fifty day moving average is $45.99 and its 200 day moving average is $40.53. Live Oak Bancshares has a 12 month low of $31.03 and a 12 month high of $50.57.

Live Oak Bancshares (NASDAQ:LOB) last issued its quarterly earnings results 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 net margin of 7.99% and a return on equity of 7.65%. The business had revenue of $241.87 million for the quarter, compared to analysts’ expectations of $126.63 million. During the same period last year, the business earned $0.88 earnings per share. Equities research analysts expect that Live Oak Bancshares will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

LOB has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $47.00 price target (up previously from $40.00) on shares of Live Oak Bancshares in a research report on Friday, July 26th. Finally, Truist Financial dropped their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.50.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, Director William Henderson Cameron purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average price of $39.76 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John W. Sutherland sold 12,588 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $49.00, for a total transaction of $616,812.00. Following the sale, the chief accounting officer now directly owns 14,015 shares of the company’s stock, valued at approximately $686,735. The trade was a 47.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.

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.