Live Oak Bancshares, Inc. (NASDAQ:LOB – Get Free Report) declared a quarterly dividend on Thursday, August 22nd, Wall Street Journal reports. Stockholders of record on Tuesday, September 3rd will be paid a dividend of 0.03 per share by the bank on Tuesday, September 17th. This represents a $0.12 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Tuesday, September 3rd.
Live Oak Bancshares has a dividend payout ratio of 4.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Live Oak Bancshares to earn $2.85 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 4.2%.
Live Oak Bancshares Stock Performance
NASDAQ:LOB traded down $0.06 on Thursday, hitting $40.71. 62,064 shares of the stock were exchanged, compared to its average volume of 179,579. Live Oak Bancshares has a 52 week low of $26.11 and a 52 week high of $47.22. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 20.56 and a beta of 1.62. The company’s 50-day moving average price is $38.19 and its 200 day moving average price is $37.61.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on LOB. Piper Sandler boosted their target price on Live Oak Bancshares from $36.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Truist Financial raised their target price on shares of Live Oak Bancshares from $38.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of Live Oak Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $47.00 price objective (up from $40.00) on shares of Live Oak Bancshares in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Live Oak Bancshares presently has an average rating of “Hold” and an average price target of $47.25.
Get Our Latest Research Report on LOB
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.
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