Bank OZK Plans Dividend of $0.47 (NASDAQ:OZK)

Key Points

• Dividend announced: Bank OZK declared a dividend of $0.47 per share, payable April 20 to shareholders of record on April 13 (ex-dividend date April 13).
• Dividend durability but slow growth: The bank has increased its dividend for 29 consecutive years though growth averaged just 0.1% per year over the past three years; the payout ratio is ~28.4% and analysts forecast EPS that would keep the payout near the mid-20% range.
• Recent performance: quarterly EPS was $1.53 (missed estimates by $0.03) with revenue slightly above expectations; OZK shares trade around $46.31, with a P/E of 7.51 and a market cap of about $5.18 billion.

Bank OZK (NASDAQ:OZK - Get Free Report) announced a dividend on Wednesday, April 1st, NASDAQ Dividends reports. Shareholders of record on Monday, April 13th will be given a dividend of 0.47 per share on Monday, April 20th. The ex-dividend date is Monday, April 13th.

Bank OZK has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 29 consecutive years. Bank OZK has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank OZK to earn $6.75 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 27.3%.

Bank OZK Stock Performance

Shares of OZK stock remained flat at $46.31 during midday trading on Friday. The company's stock had a trading volume of 947,072 shares, compared to its average volume of 1,470,235. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 7.51 and a beta of 0.93. The company has a 50-day simple moving average of $46.97 and a 200 day simple moving average of $47.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.02 and a current ratio of 1.02.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.03). The firm had revenue of $436.29 million during the quarter, compared to analysts' expectations of $434.68 million. Bank OZK had a net margin of 25.50% and a return on equity of 12.65%. During the same quarter in the previous year, the business earned $1.56 EPS. As a group, equities analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in Bank OZK by 4.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,446 shares of the company's stock worth $251,000 after acquiring an additional 218 shares during the period. Level Four Advisory Services LLC increased its stake in shares of Bank OZK by 1.4% in the third quarter. Level Four Advisory Services LLC now owns 16,816 shares of the company's stock worth $857,000 after purchasing an additional 231 shares in the last quarter. Kera Capital Partners Inc. increased its stake in shares of Bank OZK by 2.1% in the fourth quarter. Kera Capital Partners Inc. now owns 11,336 shares of the company's stock worth $539,000 after purchasing an additional 236 shares in the last quarter. Cardinal Capital Management raised its position in shares of Bank OZK by 0.6% during the 4th quarter. Cardinal Capital Management now owns 48,979 shares of the company's stock valued at $2,254,000 after purchasing an additional 277 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Bank OZK by 4.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,403 shares of the company's stock valued at $295,000 after buying an additional 278 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

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.

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