Bank OZK (NASDAQ:OZK) Increases Dividend to $0.49 Per Share

Bank OZK (NASDAQ:OZK) announced a quarterly dividend on Thursday, October 1st. Stockholders of record on Tuesday, October 13th will be given a dividend of $0.49 per share on Tuesday, October 20th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, October 13th. This is a 2.1% increase from Bank OZK’s previous quarterly dividend of $0.48.

Bank OZK has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 29 consecutive years. Bank OZK has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank OZK to earn $6.15 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 31.2%.

Bank OZK Trading Up 0.8%

Bank OZK stock opened at $46.34 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $5.18 billion, a PE ratio of 7.66 and a beta of 0.92. The stock has a 50-day moving average of $49.54 and a two-hundred day moving average of $48.88. Bank OZK has a one year low of $42.37 and a one year high of $53.39.

Bank OZK (NASDAQ:OZK) last released its earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $430.02 million for the quarter, compared to the consensus estimate of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. On average, research analysts anticipate that Bank OZK will post 5.82 EPS for the current fiscal year.

About Bank OZK

Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The bank provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, treasury management, online and mobile banking, and wealth management. Bank OZK also provides specialized lending through its Real Estate Specialties Group, which focuses on commercial real estate financing for projects in markets across the United States.

The company traces its origins to 1903, when it was founded as a community bank in Jasper, Arkansas.