Bank OZK (OZK) to Issue Quarterly Dividend of $0.43 on April 21st

Bank OZK (NASDAQ:OZK) announced a quarterly dividend on Tuesday, April 1st, RTT News reports. Investors of record on Monday, April 14th will be paid a dividend of 0.43 per share on Monday, April 21st. This represents a $1.72 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Monday, April 14th. This is a 2.4% increase from Bank OZK’s previous quarterly dividend of $0.42.

Bank OZK has increased its dividend by an average of 11.7% per year over the last three years and has raised its dividend annually for the last 29 consecutive years. Bank OZK has a dividend payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank OZK to earn $6.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 24.9%.

Bank OZK Price Performance

OZK stock opened at $43.75 on Thursday. The firm has a 50 day simple moving average of $47.77 and a two-hundred day simple moving average of $46.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02. The stock has a market cap of $4.96 billion, a PE ratio of 7.13 and a beta of 1.23. Bank OZK has a one year low of $37.43 and a one year high of $53.64.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The business had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley reduced their price target on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. UBS Group began coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price on the stock. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. Finally, Stephens lifted their price objective on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Bank OZK presently has an average rating of “Hold” and an average price target of $50.38.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.