Live Oak Bancshares said on May 24, 2023 that its board declared a regular quarterly dividend of $0.03 per share ($0.12 annualized). Previously, the company paid $0.03 per share.
Shares must be purchased before the ex-div date of June 6, 2023 to be eligible for the dividend. Shareholders of record as of June 7, 2023 will receive payment on June 21, 2023.
At the current share price of $22.02/share, the stock’s dividend yield is 0.54%.
Looking back five years and taking a sample each week, the average dividend yield was 0.47%, the lowest 0.12% and the highest 1.34%. The standard deviation of returns is 0.25 (n=236).
The current dividend yield is 0.29 standard deviation above the historical average.
Additionally, the company’s dividend payout ratio is 0.04. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company has not increased its dividend in the past three years.
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What is fund sentiment?
There are 392 funds or institutions reporting positions in Live Oak Bancshares. This is a decrease of 12 owner(s) or 2.97% in the last quarter. Average portfolio weight of all funds dedicated to LOB is 0.16%, an increase of 10.11%. The total number of shares held by institutions has decreased over the past three months by 5.33% to 33,776,000 shares. LOB’s put/call ratio is 0.79, indicating a bullish outlook.
Analyst price forecast suggests 20.44% upside
As of May 11, 2023, the one-year average price target for Live Oak Bancshares shares was 26.52. The forecast ranges from a low of $25.25 to a high of $28.35. The average price target represents a 20.44% increase from its last published closing price on February 22.
Check out our ranking of companies with the biggest upward price target.
The expected annual revenue for Live Oak Bancshares is 490 million, an increase of 1.54%. Projected annual non-GAAP EPS is 2.39.
What are the other shareholders doing?
T. Rowe Price Investment Management owns 6,359,000 shares representing 14.35% ownership of the company. In its previous filing, the company stated that it holds 6,233,000 shares, representing a raise of 1.98%. The company decreases its LPP portfolio allocation of 23.08% over the last quarter.
PRSVX – T. Rowe Price Small-Cap Value Fund holds 2,487,000 shares representing 5.61% ownership of the company. In its previous filing, the company said it held 2,491,000 shares, representing a decrease by 0.17%. The company decreases its LPP portfolio allocation of 3.66% over the last quarter.
Diamond Hill Capital Management holds 2,193,000 shares representing 4.95% ownership of the company. In its previous filing, the company stated that it holds 2,112,000 shares, representing a raise of 3.70%. The company decreases its LPP portfolio allocation of 13.67% over the last quarter.
Ameriprise Financial holds 1,199,000 shares representing 2.71% ownership of the company. In its previous filing, the company said it held 2,217,000 shares, representing a decrease of 84.83%. The company decreases its LPP portfolio allocation of 92.30% over the last quarter.
DHMAX – Diamond Hill Small-Mid Cap Fund holds 1,165,000 shares representing 2.63% ownership of the company. In its previous filing, the company said it held 1,167,000 shares, representing a decrease by 0.20%. The company decreases its LPP portfolio allocation of 6.03% over the last quarter.
Live Oak Bancshares General Information
(This description is provided by the company.)
Live Oak Bancshares, Inc. (Nasdaq: LOB) is a financial holding company and the parent company of Live Oak Bank. Live Oak Bancshares and its affiliates partner with companies that share a revolutionary vision of service and technology to redefine banking.
Key deposits for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.