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

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Investors of record on Monday, April 14th will be given 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 raised its dividend payment by an average of 11.7% per year over the last three years and has increased its dividend every year for the last 29 years. Bank OZK has a dividend payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.2 %

Shares of OZK opened at $43.38 on Wednesday. The firm has a market cap of $4.92 billion, a P/E ratio of 7.07 and a beta of 1.23. Bank OZK has a 12 month low of $37.43 and a 12 month high of $53.64. The stock’s 50 day moving average is $47.92 and its two-hundred day moving average is $46.18. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OZK. UBS Group initiated coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Wells Fargo & Company upgraded Bank OZK from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. Stephens boosted their price target on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley decreased their price objective 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.