Live Oak Bancshares, Inc. (NASDAQ:LOB) Plans $0.03 Sep 25 Dividend

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced a sep 25 dividend on Wednesday, August 20th, RTT News reports. Investors of record on Tuesday, September 2nd will be given a dividend of 0.03 per share by the bank on Monday, September 15th.

Live Oak Bancshares has a payout ratio of 3.6% meaning its dividend is sufficiently covered by earnings. 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 Down 0.9%

Shares of NASDAQ:LOB opened at $35.04 on Thursday. The firm has a market cap of $1.60 billion, a P/E ratio of 24.17 and a beta of 1.82. Live Oak Bancshares has a 12-month low of $22.68 and a 12-month high of $50.57. The business has a fifty day simple moving average of $31.48 and a 200 day simple moving average of $29.44.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Live Oak Bancshares from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $37.00 to $43.00 in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.33.

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.