Bank OZK (NASDAQ:OZK) to Issue Dividend Increase – $0.40 Per Share

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Monday, July 1st, Zacks reports. Investors of record on Friday, July 12th will be given a dividend of 0.40 per share on Friday, July 19th. This represents a $1.60 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, July 12th. This is a boost from Bank OZK’s previous quarterly dividend of $0.39.

Bank OZK has raised its dividend by an average of 9.6% annually over the last three years and has increased its dividend every year for the last 28 years. Bank OZK has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank OZK to earn $6.33 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 24.6%.

Bank OZK Stock Performance

NASDAQ OZK traded down $0.05 on Wednesday, reaching $41.20. 216,961 shares of the company’s stock traded hands, compared to its average volume of 1,272,167. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 6.91 and a beta of 1.20. The stock has a 50 day moving average price of $43.23 and a 200-day moving average price of $44.55. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.01.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. The company had revenue of $406.02 million during the quarter, compared to analysts’ expectations of $396.81 million. During the same quarter in the previous year, the company earned $1.41 earnings per share. Equities research analysts predict that Bank OZK will post 6.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on OZK shares. Stephens reaffirmed an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a report on Thursday, May 30th. Truist Financial cut their price objective on shares of Bank OZK from $48.00 to $47.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $48.00 price objective on shares of Bank OZK in a report on Monday, April 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Bank OZK from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, April 22nd. Finally, StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.00.

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.