Bank OZK (OZK) to Issue Quarterly Dividend of $0.42 on January 21st

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Friday, January 3rd,Wall Street Journal reports. Shareholders of record on Tuesday, January 14th will be given a dividend of 0.42 per share on Tuesday, January 21st. This represents a $1.68 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, January 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41.

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 28 years. Bank OZK has a dividend payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank OZK to earn $5.97 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 28.1%.

Bank OZK Trading Up 0.3 %

OZK opened at $43.98 on Friday. The company has a market cap of $4.99 billion, a P/E ratio of 7.23 and a beta of 1.18. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $46.61 and its 200-day moving average is $43.87. Bank OZK has a 1-year low of $37.43 and a 1-year high of $51.50.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. Equities research analysts predict that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OZK shares. Piper Sandler upped their target price on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. UBS Group initiated coverage on Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Finally, Truist Financial dropped their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.33.

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.