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

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. Shareholders 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 yield of 30.0%. The ex-dividend date is Tuesday, September 2nd.

Live Oak Bancshares has a dividend payout ratio of 3.6% 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 Price Performance

NASDAQ:LOB traded up $2.7330 during trading hours on Friday, hitting $37.7630. The stock had a trading volume of 550,249 shares, compared to its average volume of 291,918. The company has a 50 day simple moving average of $31.81 and a two-hundred day simple moving average of $29.46. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 26.04 and a beta of 1.82. Live Oak Bancshares has a one year low of $22.68 and a one year high of $50.57.

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.