Bank OZK (NASDAQ:OZK) to Issue Dividend Increase - $0.43 Per Share

Bank OZK (NASDAQ:OZK - Get Free Report) announced a quarterly dividend on Tuesday, April 1st, RTT News reports. Stockholders of record on Monday, April 14th will be paid a dividend of 0.43 per share on Monday, April 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Monday, April 14th. This is a 2.4% increase from Bank OZK's previous quarterly dividend of $0.42.

Bank OZK has increased its dividend by an average of 11.7% per year over the last three years and has increased its dividend annually for the last 29 consecutive years. Bank OZK has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank OZK to earn $6.75 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 25.5%.

Bank OZK Trading Down 2.0 %

OZK traded down $0.78 during trading hours on Friday, reaching $38.12. The company's stock had a trading volume of 3,118,784 shares, compared to its average volume of 1,296,061. The stock has a market cap of $4.32 billion, a PE ratio of 6.21 and a beta of 1.05. Bank OZK has a fifty-two week low of $35.80 and a fifty-two week high of $53.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02. The business's 50-day moving average is $47.28 and its 200-day moving average is $46.11.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.44 by $0.12. The business had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS. As a group, equities research analysts predict that Bank OZK will post 6.02 earnings per share for the current fiscal year.

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Analyst Ratings Changes

OZK has been the subject of a number of recent analyst reports. UBS Group assumed coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a "neutral" rating and a $51.00 price target for the company. Morgan Stanley dropped their target price on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company upgraded Bank OZK from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. Finally, Stephens raised their target price on Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $50.38.

About Bank OZK

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.