Bank OZK (OZK) To Go Ex-Dividend on January 14th

Bank OZK (NASDAQ:OZK) declared a quarterly dividend on Thursday, January 2nd,Wall Street Journal reports. Investors of record on Tuesday, January 14th will be paid a dividend of 0.42 per share on Tuesday, January 21st. This represents a $1.68 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from Bank OZK’s previous quarterly dividend of $0.41.

Bank OZK has increased its dividend by an average of 11.7% 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 26.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank OZK to earn $5.97 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 28.1%.

Bank OZK Price Performance

Shares of OZK opened at $41.71 on Friday. Bank OZK has a twelve month low of $37.43 and a twelve month high of $51.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50 day moving average price is $46.51 and its 200 day moving average price is $44.05. The firm has a market cap of $4.73 billion, a PE ratio of 6.86 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.53 by $0.02. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The company had revenue of $423.00 million for the quarter, compared to the consensus estimate of $419.08 million. As a group, research analysts expect that Bank OZK will post 6.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OZK has been the topic of a number of recent research reports. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Truist Financial decreased their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. Stephens lifted their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Piper Sandler lifted their price objective on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.25.

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.