Bank OZK (NASDAQ:OZK) Plans Dividend Increase - $0.41 Per Share

Bank OZK (NASDAQ:OZK - Get Free Report) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Stockholders of record on Friday, October 11th will be paid a dividend of 0.41 per share on Friday, October 18th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Friday, October 11th. This is a boost from Bank OZK's previous quarterly dividend of $0.40.

Bank OZK has increased its dividend payment 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 25.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank OZK to earn $6.04 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 26.5%.

Bank OZK Trading Up 1.2 %

Shares of OZK stock traded up $0.48 on Thursday, hitting $41.97. 734,882 shares of the company's stock traded hands, compared to its average volume of 1,267,881. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 7.03 and a beta of 1.17. The company's fifty day simple moving average is $42.28 and its 200 day simple moving average is $43.08. Bank OZK has a one year low of $34.76 and a one year high of $52.36.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. The firm had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 earnings per share. Equities analysts forecast that Bank OZK will post 5.97 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial dropped their price objective on Bank OZK from $49.00 to $48.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Wells Fargo & Company cut their price target on shares of Bank OZK from $39.00 to $35.00 and set an "underweight" rating on the stock in a report on Thursday, June 6th. StockNews.com upgraded shares of Bank OZK from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Raymond James lowered shares of Bank OZK from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 17th. Finally, Stephens restated an "equal weight" rating and set a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $46.57.

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.