Bank OZK (OZK) to Issue Quarterly Dividend of $0.40 on July 19th

Bank OZK (NASDAQ:OZK) announced a quarterly dividend on Monday, July 1st, Zacks reports. Stockholders 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 dividend yield of 3.89%. The ex-dividend date is Friday, July 12th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39.

Bank OZK has raised its dividend by an average of 9.6% per year 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 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

Shares of OZK traded down $0.13 during midday trading on Wednesday, reaching $41.12. 327,105 shares of the stock were exchanged, compared to its average volume of 1,273,750. The business’s 50-day moving average price is $43.23 and its 200 day moving average price is $44.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.01. Bank OZK has a twelve month low of $34.76 and a twelve month high of $52.36. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 6.91 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The firm had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. During the same quarter last year, the company posted $1.41 earnings per share. On average, sell-side analysts expect that Bank OZK will post 6.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Truist Financial reduced their price target on shares of Bank OZK from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Stephens reiterated an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a research report on Thursday, May 30th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company reduced their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Bank OZK currently has an average rating of “Hold” and a consensus price target of $46.00.

About Bank OZK

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.