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

Live Oak Bancshares, Inc. (NASDAQ:LOB) declared a quarterly dividend on Tuesday, February 11th,NASDAQ Dividends reports. Stockholders 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 dividend yield of 0.34%. The ex-dividend date of this dividend is Tuesday, February 25th.

Live Oak Bancshares has a payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ:LOB traded down $1.37 during trading on Wednesday, reaching $34.85. 213,629 shares of the company were exchanged, compared to its average volume of 198,362. The firm has a market capitalization of $1.57 billion, a PE ratio of 24.03 and a beta of 1.67. The business’s fifty day simple moving average is $39.38 and its 200-day simple moving average is $42.79. Live Oak Bancshares has a 12-month low of $31.03 and a 12-month high of $50.57.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $44.00 target price (down from $48.00) on shares of Live Oak Bancshares in a research report on Friday, January 24th. Piper Sandler cut 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 report on Friday, October 25th. Finally, Truist Financial cut 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 report on Monday, October 28th.

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.