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

Live Oak Bancshares, Inc. (NYSE:LOB) declared a quarterly dividend on Tuesday, August 18th. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.03 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, September 1st.

Live Oak Bancshares has a dividend payout ratio of 4.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Live Oak Bancshares to earn $4.19 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 2.9%.

Live Oak Bancshares Stock Down 1.7%

LOB opened at $42.56 on Wednesday. The firm’s 50 day moving average is $41.38 and its 200-day moving average is $38.36. Live Oak Bancshares has a 52-week low of $29.36 and a 52-week high of $44.53. The firm has a market capitalization of $1.97 billion, a P/E ratio of 14.99 and a beta of 1.87.

Live Oak Bancshares (NYSE:LOB) last announced its earnings results on Wednesday, July 22nd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. The business had revenue of $156.15 million during the quarter. Equities analysts expect that Live Oak Bancshares will post 3.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Zacks Research raised Live Oak Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. TD Cowen lifted their price objective on Live Oak Bancshares from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Piper Sandler increased their target price on Live Oak Bancshares from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised their price target on shares of Live Oak Bancshares from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of Live Oak Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.40.

About Live Oak Bancshares

Live Oak Bancshares, Inc is a bank holding company headquartered in Wilmington, North Carolina, and operates through its subsidiary Live Oak Banking Company. Founded in 2008, the company leverages a branchless, technology-driven platform to deliver specialty lending and deposit products across the United States. Live Oak Bancshares completed its initial public offering in February 2018 and trades on the NYSE under the ticker symbol LOB.

The company’s primary focus is on originating and servicing commercial loans for small businesses in select industry verticals.