Live Oak Bancshares, Inc. (NYSE:LOB) Plans Quarterly Dividend of $0.03

Key Points

• Live Oak Bancshares declared a quarterly dividend of $0.03 per share, payable September 15 to shareholders of record on September 1. The dividend equates to $0.12 annually and a 0.3% yield.
• The dividend appears well covered, with a current payout ratio of 4.4% and an expected forward payout ratio of 2.9% based on projected earnings of $4.19 per share next year.
• Live Oak reported quarterly EPS of $0.74, beating analysts’ $0.64 estimate, while the stock opened at $42.56. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $46.20.

Live Oak Bancshares, Inc. (NYSE:LOB - Get Free Report) announced a quarterly dividend on Tuesday, August 18th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.03 per share on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, September 1st.

Live Oak Bancshares has a payout ratio of 4.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Live Oak Bancshares to earn $4.19 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 2.9%.

Live Oak Bancshares Stock Down 1.7%

NYSE LOB opened at $42.56 on Wednesday. The company has a market capitalization of $1.97 billion, a P/E ratio of 14.99 and a beta of 1.87. Live Oak Bancshares has a 12-month low of $29.36 and a 12-month high of $44.53. The firm has a 50-day moving average price of $41.38 and a two-hundred day moving average price of $38.36.

Live Oak Bancshares (NYSE:LOB - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. Live Oak Bancshares had a net margin of 12.68% and a return on equity of 11.77%. The company had revenue of $156.15 million for the quarter. Equities analysts expect that Live Oak Bancshares will post 3.07 EPS for the current year.

Analyst Upgrades and Downgrades

LOB has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Live Oak Bancshares from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. Zacks Research raised Live Oak Bancshares from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Weiss Ratings upgraded Live Oak Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Cantor Fitzgerald boosted their price target on Live Oak Bancshares from $41.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on Live Oak Bancshares from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.20.

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.

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