Bank OZK (NASDAQ:OZK) Plans Dividend Increase – $0.28 Per Share

Bank OZK (NASDAQ:OZK) announced a quarterly dividend on Monday, January 4th, Zacks reports. Stockholders of record on Friday, January 15th will be given a dividend of 0.278 per share on Friday, January 22nd. This represents a $1.11 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, January 14th. This is a boost from Bank OZK’s previous quarterly dividend of $0.28.

Bank OZK has increased its dividend by 195.2% over the last three years and has increased its dividend annually for the last 3 consecutive years. Bank OZK has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank OZK to earn $2.62 per share next year, which means the company should continue to be able to cover its $1.11 annual dividend with an expected future payout ratio of 42.4%.

Shares of NASDAQ:OZK opened at $36.03 on Wednesday. The company has a market cap of $4.66 billion, a P/E ratio of 17.41 and a beta of 2.03. The stock’s 50-day moving average is $31.01 and its 200-day moving average is $25.58. Bank OZK has a 52-week low of $14.20 and a 52-week high of $36.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, October 22nd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.27. Bank OZK had a net margin of 21.95% and a return on equity of 6.49%. The company had revenue of $251.33 million during the quarter, compared to analysts’ expectations of $244.29 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. As a group, equities analysts predict that Bank OZK will post 1.68 EPS for the current year.

A number of analysts have commented on the stock. ValuEngine raised shares of Bank OZK from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 1st. Morgan Stanley boosted their price target on shares of Bank OZK from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, January 7th. Zacks Investment Research raised shares of Bank OZK from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Tuesday, November 3rd. BidaskClub raised shares of Bank OZK from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, TheStreet raised shares of Bank OZK from a “c+” rating to a “b” rating in a research report on Tuesday, January 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.11.

About Bank OZK

Bank OZK provides various retail and commercial banking services. The company accepts various deposit products, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. It also offers real estate, consumer and small business, indirect consumer RV and marine, commercial and industrial, government guaranteed, agricultural, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.

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Dividend History for Bank OZK (NASDAQ:OZK)

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