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

Live Oak Bancshares, Inc. (NASDAQ:LOB) declared a quarterly dividend on Tuesday, February 11th,NASDAQ Dividends reports. Investors 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 annualized dividend and a yield of 0.34%. The ex-dividend date is Tuesday, February 25th.

Live Oak Bancshares has a dividend 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 trading on Wednesday, hitting $34.85. The company’s stock had a trading volume of 213,629 shares, compared to its average volume of 198,362. Live Oak Bancshares has a fifty-two week low of $31.03 and a fifty-two week high of $50.57. The company has a market cap of $1.57 billion, a PE ratio of 24.03 and a beta of 1.67. The business’s 50 day simple moving average is $39.38 and its 200-day simple moving average is $42.79.

Wall Street Analysts Forecast Growth

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

About Live Oak Bancshares

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.