Bank OZK (NASDAQ:OZK) Plans Quarterly Dividend of $0.44

Bank OZK (NASDAQ:OZK - Get Free Report) announced a quarterly dividend on Tuesday, July 1st, RTT News reports. Investors of record on Friday, July 11th will be paid a dividend of 0.44 per share on Friday, July 18th. This represents a $1.76 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, July 11th. This is a 2.3% increase from Bank OZK's previous quarterly dividend of $0.43.

Bank OZK has a dividend payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank OZK to earn $6.75 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 25.5%.

Bank OZK Stock Up 0.2%

NASDAQ:OZK traded up $0.09 on Friday, hitting $51.04. 884,815 shares of the company's stock traded hands, compared to its average volume of 1,215,448. The company has a market cap of $5.80 billion, a PE ratio of 8.37 and a beta of 0.85. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $45.60 and a 200-day moving average price of $45.48.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. Bank OZK had a net margin of 25.66% and a return on equity of 13.46%. The firm had revenue of $409.23 million for the quarter, compared to the consensus estimate of $403.05 million. During the same period in the previous year, the firm posted $1.51 earnings per share. Equities analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Stephens dropped their target price on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Morgan Stanley reduced their price target on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $50.86.

Institutional Investors Weigh In On Bank OZK

Several large investors have recently made changes to their positions in OZK. Empowered Funds LLC boosted its position in Bank OZK by 1.8% in the 1st quarter. Empowered Funds LLC now owns 60,037 shares of the company's stock valued at $2,609,000 after buying an additional 1,058 shares during the last quarter. Focus Partners Wealth raised its stake in Bank OZK by 11.0% during the 1st quarter. Focus Partners Wealth now owns 17,711 shares of the company's stock worth $770,000 after buying an additional 1,756 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Bank OZK by 14.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,690 shares of the company's stock valued at $2,029,000 after purchasing an additional 5,717 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Bank OZK by 29.8% during the first quarter. Intech Investment Management LLC now owns 30,436 shares of the company's stock worth $1,322,000 after acquiring an additional 6,985 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Bank OZK by 37.8% in the 1st quarter. Royal Bank of Canada now owns 41,257 shares of the company's stock valued at $1,792,000 after purchasing an additional 11,310 shares during the period. Institutional investors own 86.18% of the company's stock.

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.