Bank OZK (OZK) To Go Ex-Dividend on July 13th

Bank OZK (NASDAQ:OZK) announced a quarterly dividend on Wednesday, July 1st. Shareholders of record on Monday, July 13th will be given a dividend of 0.48 per share on Monday, July 20th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, July 13th. This is a 2.1% increase from Bank OZK’s previous quarterly dividend of $0.47.

Bank OZK has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 29 years. Bank OZK has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank OZK to earn $6.64 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 28.3%.

Bank OZK Stock Down 5.7%

OZK stock opened at $49.84 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $5.58 billion, a P/E ratio of 8.12 and a beta of 0.89. The business has a 50-day moving average of $49.09 and a 200-day moving average of $47.90. Bank OZK has a fifty-two week low of $42.37 and a fifty-two week high of $53.66.

Bank OZK (NASDAQ:OZK) last released its earnings results on Tuesday, April 21st. The company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02). The firm had revenue of $424.32 million during the quarter, compared to the consensus estimate of $422.62 million. Bank OZK had a net margin of 25.27% and a return on equity of 12.32%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. On average, sell-side analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company increased their price objective on shares of Bank OZK from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. Wall Street Zen upgraded Bank OZK from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings raised Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Finally, UBS Group initiated coverage on Bank OZK in a report on Tuesday, April 7th. They set a “neutral” rating and a $48.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bank OZK presently has an average rating of “Hold” and an average target price of $56.33.

About Bank OZK

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.