Bank OZK (NASDAQ:OZK) Raises Dividend to $0.39 Per Share

Bank OZK (NASDAQ:OZKGet Free Report) declared 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 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend 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 every year for the last 28 years. Bank OZK has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of NASDAQ OZK opened at $44.18 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $5.00 billion, a price-to-earnings 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. Bank OZK has a 52 week low of $30.72 and a 52 week high of $52.36.

Bank OZK (NASDAQ:OZKGet Free Report) last issued its quarterly earnings data on Friday, January 19th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $407.58 million for the quarter, compared to analyst estimates of $396.54 million. Bank OZK had a return on equity of 15.13% and a net margin of 30.69%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 EPS. As a group, equities research analysts expect that Bank OZK will post 5.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank OZK

Institutional investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P bought a new position in Bank OZK in the 1st quarter valued at $179,000. KBC Group NV bought a new position in Bank OZK in the 4th quarter valued at $89,000. Point72 Hong Kong Ltd bought a new position in Bank OZK in the 1st quarter valued at $73,000. Belpointe Asset Management LLC raised its position in Bank OZK by 18.1% in the 1st quarter. Belpointe Asset Management LLC now owns 2,127 shares of the company’s stock valued at $73,000 after purchasing an additional 326 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Bank OZK by 48.8% in the 1st quarter. 1832 Asset Management L.P. now owns 1,494 shares of the company’s stock valued at $63,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com lowered Bank OZK from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. UBS Group lowered Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Truist Financial lowered their target price on Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, February 1st. Finally, Citigroup reduced their price objective on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.50.

Check Out Our Latest Research Report on OZK

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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