Bank OZK (OZK) to Issue Quarterly Dividend of $0.29 on October 22nd

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Friday, October 1st, Zacks reports. Shareholders of record on Friday, October 15th will be paid a dividend of 0.29 per share on Friday, October 22nd. This represents a $1.16 annualized dividend and a yield of 2.68%. The ex-dividend date is Thursday, October 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.29.

Bank OZK has increased its dividend by 195.2% over the last three years and has increased its dividend annually for the last 4 consecutive years. Bank OZK has a payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank OZK to earn $3.67 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 30.5%.

Shares of NASDAQ OZK traded down $0.03 during midday trading on Tuesday, hitting $43.35. The company’s stock had a trading volume of 1,282 shares, compared to its average volume of 722,402. Bank OZK has a 1-year low of $21.45 and a 1-year high of $45.83. The firm’s fifty day moving average price is $42.28 and its 200-day moving average price is $41.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $5.61 billion, a P/E ratio of 10.66 and a beta of 1.82.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Wednesday, July 21st. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.24. The business had revenue of $268.49 million during the quarter, compared to analyst estimates of $259.35 million. Bank OZK had a net margin of 44.62% and a return on equity of 12.08%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. As a group, research analysts predict that Bank OZK will post 4.18 earnings per share for the current fiscal year.

Separately, Morgan Stanley boosted their target price on shares of Bank OZK from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Bank OZK presently has a consensus rating of “Buy” and a consensus price target of $45.29.

Bank OZK Company Profile

Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.

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Dividend History for Bank OZK (NASDAQ:OZK)

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