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

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) declared a quarterly dividend on Tuesday, February 11th,NASDAQ Dividends reports. Shareholders 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 dividend yield of 0.35%. The ex-dividend date is Tuesday, February 25th.

Live Oak Bancshares has a dividend payout ratio of 3.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of LOB stock traded down $1.10 during mid-day trading on Friday, hitting $33.82. 278,988 shares of the stock were exchanged, compared to its average volume of 209,182. The stock's fifty day simple moving average is $38.67 and its two-hundred day simple moving average is $42.57. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 23.32 and a beta of 1.67. Live Oak Bancshares has a 12-month low of $31.03 and a 12-month high of $50.57.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LOB shares. Truist Financial dropped their price objective on Live Oak Bancshares from $57.00 to $46.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $44.00 price objective (down previously from $48.00) on shares of Live Oak Bancshares in a report on Friday, January 24th. Finally, Piper Sandler dropped their price objective on Live Oak Bancshares from $50.00 to $44.00 and set a "neutral" rating on the stock in a 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.