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

Live Oak Bancshares, Inc. (NYSE:LOB) declared a quarterly dividend on Tuesday, May 19th. Investors of record on Tuesday, June 2nd will be given a dividend of 0.03 per share on Monday, June 15th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, June 2nd.

Live Oak Bancshares has a dividend payout ratio of 4.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Live Oak Bancshares to earn $4.05 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 3.0%.

Live Oak Bancshares Price Performance

LOB opened at $37.00 on Thursday. The business has a fifty day moving average price of $35.14 and a 200 day moving average price of $35.57. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 14.17 and a beta of 1.92. Live Oak Bancshares has a 12 month low of $26.19 and a 12 month high of $42.89.

Live Oak Bancshares (NYSE:LOB) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. The business had revenue of $145.47 million during the quarter, compared to analysts’ expectations of $146.02 million. Live Oak Bancshares had a return on equity of 11.18% and a net margin of 11.79%. On average, research analysts anticipate that Live Oak Bancshares will post 2.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LOB. Zacks Research raised Live Oak Bancshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. TD Cowen cut their target price on Live Oak Bancshares from $51.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Weiss Ratings raised Live Oak Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, April 21st. Piper Sandler raised their price objective 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. Finally, Keefe, Bruyette & Woods lowered their target price on Live Oak Bancshares from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.40.

Live Oak Bancshares Company Profile

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.