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

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced 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% meaning its dividend is sufficiently covered by earnings. 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

Live Oak Bancshares stock traded down $1.73 during trading hours on Tuesday, hitting $46.05. 256,622 shares of the stock were exchanged, compared to its average volume of 184,570. The stock has a market capitalization of $2.08 billion, a P/E ratio of 30.12 and a beta of 1.63. Live Oak Bancshares has a 12 month low of $31.03 and a 12 month high of $50.57. The business’s 50-day moving average is $45.99 and its two-hundred day moving average is $40.53.

Live Oak Bancshares (NASDAQ:LOB) last announced 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 net margin of 7.99% and a return on equity of 7.65%. The business had revenue of $241.87 million during the quarter, compared to the consensus estimate of $126.63 million. During the same period in the previous year, the business posted $0.88 earnings per share. On average, equities analysts predict that Live Oak Bancshares will post 2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO John W. Sutherland sold 12,588 shares of the firm’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 in the company, valued at $686,735. This trade represents a 47.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Henderson Cameron acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average price of $39.76 per share, for a total transaction of $39,760.00. Following the completion of the acquisition, the director now owns 202,217 shares of the company’s stock, valued at $8,040,147.92. This trade represents a 0.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of 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 reduced 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 reaffirmed a “market perform” rating and issued a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a research note on Friday, July 26th. One 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. Based on data from MarketBeat.com, Live Oak Bancshares currently has an average rating of “Hold” and an average target price of $45.50.

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.