Bank OZK (OZK) To Go Ex-Dividend on October 13th

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 of this dividend 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%per year over the last three years and has raised its dividend every year for the last 29 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 Stock Up 0.8%

Shares of OZK opened at $46.71 on Friday. Bank OZK has a 52-week low of $42.37 and a 52-week high of $53.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $49.47 and a two-hundred day simple moving average of $48.86. The company has a market capitalization of $5.23 billion, a PE ratio of 7.72 and a beta of 0.92.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The company had revenue of $430.02 million during the quarter, compared to analyst estimates 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 for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 earnings per share. As a group, equities analysts forecast that Bank OZK will post 5.82 EPS for the current year.

Bank OZK declared that its Board of Directors has approved a share repurchase plan on Monday, June 29th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.