Bank OZK (NASDAQ:OZK) Declares Quarterly Dividend of $0.43

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Shareholders 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 3.96%. 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% annually over the last three years and has increased its dividend every year for the last 29 years. Bank OZK has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.2 %

Shares of NASDAQ:OZK traded down $0.07 during midday trading on Tuesday, hitting $43.38. 1,365,859 shares of the stock traded hands, compared to its average volume of 1,269,240. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $48.06 and its two-hundred day moving average is $46.16. The stock has a market capitalization of $4.92 billion, a PE ratio of 7.07 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 announced its quarterly earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, topping 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 company had revenue of $412.34 million during the quarter, compared to analyst estimates of $407.19 million. During the same quarter last year, the firm posted $1.50 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OZK. Stephens increased 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. Morgan Stanley dropped their target price on Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. UBS Group initiated coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target for the company. Finally, Wells Fargo & Company raised Bank OZK from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Bank OZK has a consensus 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.