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

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced 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 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

NASDAQ LOB traded down $1.37 during mid-day trading on Wednesday, hitting $34.85. The stock had a trading volume of 213,629 shares, compared to its average volume of 198,362. Live Oak Bancshares has a twelve month low of $31.03 and a twelve month high of $50.57. The firm’s 50 day moving average is $39.38 and its 200 day moving average is $42.79. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 24.03 and a beta of 1.67.

Analyst Ratings Changes

LOB has been the topic of several research reports. Truist Financial decreased their price target on shares of Live Oak Bancshares from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $44.00 target price (down from $48.00) on shares of Live Oak Bancshares in a research note on Friday, January 24th. Finally, Piper Sandler dropped their price target on Live Oak Bancshares from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

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.