Live Oak Bancshares, Inc. (LOB) to Issue Quarterly Dividend of $0.03 on June 17th

Live Oak Bancshares, Inc. (NASDAQ:LOB) announced a quarterly dividend on Wednesday, May 21st, Wall Street Journal reports. Investors of record on Tuesday, June 3rd will be paid a dividend of 0.03 per share by the bank on Tuesday, June 17th. This represents a $0.12 annualized dividend and a yield of 0.45%. The ex-dividend date is Tuesday, June 3rd.

Live Oak Bancshares has a payout ratio of 3.6% meaning its dividend is sufficiently covered by earnings. 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 NASDAQ LOB opened at $26.95 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of 18.58 and a beta of 1.84. The firm has a fifty day moving average of $26.21 and a 200 day moving average of $34.64. Live Oak Bancshares has a one year low of $22.68 and a one year high of $50.57.

Wall Street Analyst Weigh In

LOB has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Live Oak Bancshares has a consensus rating of “Hold” and an average target price of $42.25.

Insider Buying and Selling at Live Oak Bancshares

In related news, Director William Henderson Cameron acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $25.92 per share, for a total transaction of $129,600.00. Following the acquisition, the director now owns 11,904 shares in the company, valued at $308,551.68. The trade was a 72.42% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Live Oak Bancshares

Large investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of Live Oak Bancshares by 655.6% in the 1st quarter. Millennium Management LLC now owns 687,885 shares of the bank’s stock worth $18,339,000 after acquiring an additional 596,841 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Live Oak Bancshares by 15.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 264,122 shares of the bank’s stock worth $7,041,000 after buying an additional 34,849 shares in the last quarter. Jane Street Group LLC lifted its holdings in Live Oak Bancshares by 1,263.2% during the 1st quarter. Jane Street Group LLC now owns 201,816 shares of the bank’s stock worth $5,380,000 after buying an additional 187,011 shares in the last quarter. Empowered Funds LLC acquired a new stake in Live Oak Bancshares during the 1st quarter worth approximately $1,758,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Live Oak Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,594 shares of the bank’s stock worth $549,000 after buying an additional 880 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

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.