Live Oak Bancshares Inc (NASDAQ:LOB) to Issue $0.03 Quarterly Dividend

Live Oak Bancshares Inc (NASDAQ:LOB) declared a quarterly dividend on Tuesday, May 12th, Zacks reports. Investors of record on Tuesday, May 26th will be paid a dividend of 0.03 per share by the bank on Tuesday, June 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, May 22nd.

Live Oak Bancshares has raised its dividend by an average of 6.3% annually over the last three years and has increased its dividend every year for the last 3 years. Live Oak Bancshares has a dividend payout ratio of 109.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Live Oak Bancshares to earn $0.45 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 26.7%.

Shares of LOB stock opened at $12.48 on Thursday. The stock has a market capitalization of $505.54 million, a P/E ratio of 65.69 and a beta of 1.14. The company has a 50 day moving average price of $12.82 and a 200 day moving average price of $16.09. Live Oak Bancshares has a fifty-two week low of $7.57 and a fifty-two week high of $20.46.

Live Oak Bancshares (NASDAQ:LOB) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.27). Live Oak Bancshares had a return on equity of 1.72% and a net margin of 2.67%. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $52.07 million. Equities analysts forecast that Live Oak Bancshares will post 0.11 earnings per share for the current fiscal year.

In other Live Oak Bancshares news, insider Huntley Garriott bought 5,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $11.28 per share, for a total transaction of $56,400.00. Following the completion of the transaction, the insider now owns 85,094 shares in the company, valued at approximately $959,860.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 25.10% of the company’s stock.

Several research analysts have commented on the stock. Zacks Investment Research cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday. Itau BBA Securities cut shares of Live Oak Bancshares from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a report on Tuesday, May 12th. BidaskClub cut shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Friday, May 8th. ValuEngine raised shares of Live Oak Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, April 23rd. Finally, SunTrust Banks lifted their price target on shares of Live Oak Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.67.

About Live Oak Bancshares

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, savings, and time deposits.

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Dividend History for Live Oak Bancshares (NASDAQ:LOB)

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