Live Oak Bancshares, Inc. (LOB) to Issue Quarterly Dividend of $0.03 on March 15th

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 is Thursday, March 5th.

Live Oak Bancshares has a payout ratio of 3.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.7%

Shares of LOB stock opened at $40.87 on Friday. The stock has a market cap of $1.87 billion, a P/E ratio of 28.19 and a beta of 2.00. Live Oak Bancshares has a fifty-two week low of $22.68 and a fifty-two week high of $42.89. The business has a fifty day simple moving average of $37.96 and a 200-day simple moving average of $35.54.

Wall Street Analyst Weigh In

LOB has been the topic of several recent research reports. Piper Sandler reduced their price target on shares of Live Oak Bancshares from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. TD Cowen reduced their target price on Live Oak Bancshares from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Live Oak Bancshares presently has an average rating of “Moderate Buy” and an average target price of $44.20.

Live Oak Bancshares Company Profile

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.