Bank OZK (NASDAQ:OZK) to Issue Quarterly Dividend of $0.42

Bank OZK (NASDAQ:OZK) announced a quarterly dividend on Friday, January 3rd,Wall Street Journal reports. Investors 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 an increase from Bank OZK’s previous quarterly dividend of $0.41.

Bank OZK has raised its dividend payment by an average of 11.7% annually over the last three years and has increased its dividend annually for the last 28 consecutive years. Bank OZK has a payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NASDAQ:OZK opened at $43.98 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $4.99 billion, a PE ratio of 7.23 and a beta of 1.18. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $51.50. The company has a fifty day moving average of $46.61 and a two-hundred day moving average of $43.87.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The business had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $419.08 million. As a group, research analysts forecast that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OZK has been the subject of a number of research analyst reports. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Stephens raised their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Piper Sandler upped their target price on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price target on shares of Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial cut their price objective on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Bank OZK currently has an average rating of “Hold” and a consensus 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.