Bank OZK (NASDAQ:OZK) Announces Dividend Increase – $0.41 Per Share

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Tuesday, October 1st, Zacks reports. Shareholders of record on Friday, October 11th will be paid a dividend of 0.41 per share on Friday, October 18th. This represents a $1.64 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40.

Bank OZK has increased its dividend payment 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 dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank OZK to earn $6.04 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 26.5%.

Bank OZK Price Performance

NASDAQ:OZK opened at $41.18 on Thursday. Bank OZK has a one year low of $34.76 and a one year high of $52.36. The stock has a market cap of $4.67 billion, a PE ratio of 6.95 and a beta of 1.17. The stock has a 50 day moving average price of $42.28 and a 200 day moving average price of $43.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting analysts’ consensus estimates of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The company had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. During the same quarter in the previous year, the business earned $1.47 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that Bank OZK will post 5.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OZK. Stephens reiterated an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a research note on Thursday, July 18th. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Morgan Stanley increased their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Truist Financial decreased their price target on Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a report on Friday, September 20th. Finally, StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, Bank OZK presently has an average rating of “Hold” and an average target price of $46.57.

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.