Bank OZK (OZK) To Go Ex-Dividend on October 11th

by · The Cerbat Gem

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 given 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 3.96%. The ex-dividend date of this dividend is Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40.

Bank OZK has raised its dividend by an average of 9.6% annually over the last three years and has raised its dividend annually for the last 28 consecutive years. Bank OZK has a dividend payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank OZK to earn $6.03 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 27.2%.

Bank OZK Stock Down 1.7 %

Shares of NASDAQ:OZK opened at $41.39 on Wednesday. The stock’s 50-day moving average is $41.91 and its 200 day moving average is $43.03. The company has a market cap of $4.70 billion, a PE ratio of 6.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36.

Bank OZK (NASDAQ:OZK – Get Free Report) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. During the same period in the prior year, the business earned $1.47 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Bank OZK will post 6.01 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Stephens reiterated an “equal weight” rating and set a $50.00 price objective on shares of Bank OZK in a research note on Thursday, July 18th. Morgan Stanley raised their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Truist Financial dropped their target price on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.57.

Read Our Latest Report on OZK

Bank OZK Company Profile

(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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