Bank OZK (OZK) to Issue Quarterly Dividend of $0.39 on April 19th

Bank OZK (NASDAQ:OZKGet Free Report) announced a quarterly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Friday, April 12th will be paid a dividend of 0.39 per share on Friday, April 19th. This represents a $1.56 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, April 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.38.

Bank OZK has raised its dividend by an average of 9.6% annually over the last three years and has increased its dividend annually for the last 28 consecutive years. Bank OZK has a dividend payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank OZK to earn $6.21 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 24.5%.

Bank OZK Stock Down 1.6 %

OZK stock opened at $44.18 on Wednesday. Bank OZK has a twelve month low of $30.72 and a twelve month high of $52.36. The company has a market cap of $5.00 billion, a PE ratio of 7.53 and a beta of 1.27. The business’s 50-day simple moving average is $43.78 and its 200 day simple moving average is $42.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.27.

Bank OZK (NASDAQ:OZKGet Free Report) last released its earnings results on Friday, January 19th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. Bank OZK had a return on equity of 15.13% and a net margin of 30.69%. The business had revenue of $407.58 million for the quarter, compared to the consensus estimate of $396.54 million. During the same period last year, the business earned $1.34 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, research analysts anticipate that Bank OZK will post 5.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Bank OZK in the 1st quarter worth approximately $25,000. Steward Partners Investment Advisory LLC raised its position in Bank OZK by 66.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 581 shares of the company’s stock worth $29,000 after purchasing an additional 231 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Bank OZK by 94.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock worth $33,000 after purchasing an additional 376 shares during the last quarter. Quarry LP raised its position in Bank OZK by 235.2% in the 1st quarter. Quarry LP now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 776 shares during the last quarter. Finally, Covestor Ltd raised its position in Bank OZK by 56.6% in the 1st quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after purchasing an additional 324 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

OZK has been the topic of a number of recent research reports. StockNews.com downgraded Bank OZK from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Wells Fargo & Company decreased their price objective on Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, February 1st. Truist Financial decreased their price objective on Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Monday. Raymond James raised Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Friday, January 5th. Finally, UBS Group downgraded Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.50.

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About Bank OZK

(Get Free Report)

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.

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Dividend History for Bank OZK (NASDAQ:OZK)

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