Live Oak Bancshares Inc (NASDAQ:LOB) announced a quarterly dividend on Tuesday, August 28th, NASDAQ reports. Stockholders of record on Tuesday, September 11th will be given a dividend of 0.03 per share by the bank on Tuesday, September 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, September 10th.
Live Oak Bancshares has a payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Live Oak Bancshares to earn $1.60 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 7.5%.
NASDAQ LOB opened at $30.30 on Wednesday. Live Oak Bancshares has a 12 month low of $20.75 and a 12 month high of $32.95. The firm has a market capitalization of $1.21 billion, a PE ratio of 24.24 and a beta of 0.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.64 and a current ratio of 0.90.
Live Oak Bancshares (NASDAQ:LOB) last released its earnings results on Wednesday, July 25th. The bank reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Live Oak Bancshares had a return on equity of 13.41% and a net margin of 35.16%. The firm had revenue of $57.66 million for the quarter, compared to analysts’ expectations of $59.31 million. equities analysts anticipate that Live Oak Bancshares will post 1.38 earnings per share for the current year.
In other news, Vice Chairman William L. Williams III bought 35,000 shares of the company’s stock in a transaction on Monday, July 30th. The shares were acquired at an average cost of $28.27 per share, with a total value of $989,450.00. Following the completion of the transaction, the insider now owns 28,100 shares of the company’s stock, valued at approximately $794,387. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO S. Brett Caines sold 3,573 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $27.99, for a total value of $100,008.27. Following the completion of the transaction, the chief financial officer now directly owns 294,454 shares in the company, valued at $8,241,767.46. The disclosure for this sale can be found here. Over the last three months, insiders acquired 75,700 shares of company stock worth $2,187,536 and sold 27,310 shares worth $799,996. Company insiders own 25.70% of the company’s stock.
Several research firms recently commented on LOB. BidaskClub raised Live Oak Bancshares from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 7th. Zacks Investment Research cut Live Oak Bancshares from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 1st. Finally, Sandler O’Neill cut Live Oak Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Live Oak Bancshares currently has a consensus rating of “Hold” and an average target price of $29.25.
Live Oak Bancshares Company Profile
Live Oak Bancshares, Inc operates as the bank holding company for the Live Oak Banking Company that provides various commercial banking products and services to individuals and businesses in North Carolina. The company accepts various deposit products, including noninterest-bearing demand, interest-bearing checking, money market, saving, and time deposits.
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