Bank OZK (NASDAQ:OZK – Get Free Report) declared a quarterly dividend on Monday, July 1st, Zacks reports. Stockholders of record on Friday, July 12th will be given a dividend of 0.40 per share on Friday, July 19th. This represents a $1.60 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, July 12th. This is a boost from Bank OZK’s previous quarterly dividend of $0.39.
Bank OZK has increased its dividend by an average of 9.6% per year over the last three years and has increased its dividend every year for the last 28 years. Bank OZK has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank OZK to earn $6.33 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 24.6%.
Bank OZK Stock Down 0.4 %
Shares of NASDAQ OZK traded down $0.17 during mid-day trading on Wednesday, hitting $41.08. 103,921 shares of the stock traded hands, compared to its average volume of 1,271,993. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.01. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 6.91 and a beta of 1.20. The stock has a fifty day moving average price of $43.23 and a 200-day moving average price of $44.55.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday, June 6th. Truist Financial lowered their price target on Bank OZK from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Stephens reaffirmed an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a report on Thursday, May 30th. Keefe, Bruyette & Woods upped their price target on Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Finally, Citigroup downgraded Bank OZK from a “buy” rating to a “sell” rating and lowered their price target for the company from $57.00 to $37.00 in a report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bank OZK presently has an average rating of “Hold” and a consensus target price of $46.00.
Read Our Latest Stock Analysis on Bank OZK
Bank OZK Company Profile
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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