Live Oak Bancshares, Inc. (NASDAQ:LOB) to Issue $0.03 Quarterly Dividend

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Thursday, March 5th will be given a dividend of 0.03 per share by the bank on Sunday, March 15th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, March 5th.

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 Trading Up 1.7%

LOB traded up $0.69 during midday trading on Friday, hitting $40.87. 156,422 shares of the company were exchanged, compared to its average volume of 354,773. The company’s 50 day simple moving average is $37.85 and its 200 day simple moving average is $35.48. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 28.19 and a beta of 2.00. Live Oak Bancshares has a 1-year low of $22.68 and a 1-year high of $42.89.

Insider Transactions at Live Oak Bancshares

In other Live Oak Bancshares news, insider Ewa Maria Stasiowska acquired 2,595 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was acquired at an average cost of $38.53 per share, for a total transaction of $99,985.35. Following the completion of the transaction, the insider directly owned 2,595 shares of the company’s stock, valued at $99,985.35. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Courtney Spencer sold 9,700 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $39.01, for a total value of $378,397.00. Following the transaction, the insider directly owned 25,160 shares of the company’s stock, valued at approximately $981,491.60. The trade was a 27.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On Live Oak Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Live Oak Bancshares by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,702,627 shares of the bank’s stock valued at $92,835,000 after purchasing an additional 17,181 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Live Oak Bancshares by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,545,210 shares of the bank’s stock worth $54,424,000 after purchasing an additional 5,046 shares during the last quarter. State Street Corp raised its position in shares of Live Oak Bancshares by 5.1% during the 4th quarter. State Street Corp now owns 1,308,462 shares of the bank’s stock worth $44,946,000 after purchasing an additional 63,325 shares during the last quarter. NewEdge Wealth LLC purchased a new position in Live Oak Bancshares in the 4th quarter valued at about $43,261,000. Finally, Southernsun Asset Management LLC boosted its holdings in Live Oak Bancshares by 15.1% in the 4th quarter. Southernsun Asset Management LLC now owns 1,029,108 shares of the bank’s stock worth $35,350,000 after buying an additional 134,798 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a bank holding company based in Wilmington, North Carolina, and the parent of Live Oak Banking Company and Live Oak Bank. The company specializes in small business and commercial lending, offering a suite of financing solutions that includes U.S. Small Business Administration (SBA) 7(a) and 504 loans, equipment finance, commercial real estate loans, and industry-specific lending programs. Live Oak Bancshares combines a digital-first banking platform with a team of lending specialists to serve customers across all 50 states.

Founded in 2008 and headquartered in Wilmington, Live Oak Bancshares was chartered by the Office of the Comptroller of the Currency to focus on underserved small business sectors.