Live Oak Bancshares, Inc. Declares Sep 25 Dividend of $0.03 (NASDAQ:LOB)

Key Points

• Live Oak Bancshares, Inc. declared a dividend of $0.03 per share, which will be paid on September 15 to investors of record on September 2.
• The company has a dividend payout ratio of 3.6% and analysts expect it to maintain this level with a projected earnings of $3.39 per share next year.
• Keefe, Bruyette & Woods upgraded Live Oak Bancshares' stock rating to "outperform" and increased its price target from $37.00 to $43.00.

Live Oak Bancshares, Inc. (NASDAQ:LOB - Get Free Report) announced a sep 25 dividend on Wednesday, August 20th, RTT News reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.03 per share by the bank on Monday, September 15th. This represents a dividend yield of 30.0%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Live Oak Bancshares has a payout ratio of 3.6% meaning 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 traded down $0.04 during mid-day trading on Monday, reaching $37.71. The company had a trading volume of 75,363 shares, compared to its average volume of 290,505. The company's 50 day simple moving average is $31.81 and its 200 day simple moving average is $29.38. Live Oak Bancshares has a 1-year low of $22.68 and a 1-year high of $50.57. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 25.99 and a beta of 1.82.

Institutional Investors Weigh In On Live Oak Bancshares

Institutional investors have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Live Oak Bancshares during the 1st quarter worth approximately $68,000. Tower Research Capital LLC TRC boosted its stake in shares of Live Oak Bancshares by 138.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the bank's stock valued at $95,000 after purchasing an additional 1,850 shares during the last quarter. CWM LLC boosted its stake in shares of Live Oak Bancshares by 1,547.3% in the 2nd quarter. CWM LLC now owns 3,904 shares of the bank's stock valued at $116,000 after purchasing an additional 3,667 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Live Oak Bancshares by 111.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,170 shares of the bank's stock valued at $184,000 after purchasing an additional 3,248 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Live Oak Bancshares by 37.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,481 shares of the bank's stock valued at $223,000 after purchasing an additional 2,040 shares during the last quarter. 63.95% of the stock is owned by institutional investors.

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.