Bank OZK (NASDAQ:OZK) announced a quarterly dividend on Thursday, April 1st, Fidelity reports. Shareholders of record on Monday, April 12th will be given a dividend of 0.28 per share on Monday, April 19th. This represents a $1.12 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, April 9th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.28.
Bank OZK has raised its dividend payment by 195.2% over the last three years and has raised its dividend every year for the last 3 years. Bank OZK has a dividend payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank OZK to earn $2.98 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 37.6%.
Bank OZK stock opened at $40.10 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $42.09 and its two-hundred day simple moving average is $32.57. Bank OZK has a 12 month low of $16.59 and a 12 month high of $45.83. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 19.10 and a beta of 1.90.
A number of research firms recently commented on OZK. TheStreet upgraded Bank OZK from a “c+” rating to a “b” rating in a research report on Tuesday, January 5th. Zacks Investment Research cut Bank OZK from a “buy” rating to a “hold” rating and set a $39.00 price objective for the company. in a research report on Wednesday, January 27th. Morgan Stanley upped their price objective on Bank OZK from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 24th. Truist boosted their price target on Bank OZK from $37.00 to $45.00 in a report on Monday, March 8th. Finally, Citigroup boosted their price target on Bank OZK from $32.00 to $37.00 in a report on Tuesday, January 26th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.33.
Bank OZK Company Profile
Bank OZK provides various retail and commercial banking services. The company accepts various deposit products, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. It also offers real estate, consumer and small business, indirect consumer RV and marine, commercial and industrial, government guaranteed, agricultural, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
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