Bank OZK (NASDAQ:OZK) Announces Earnings Results

Bank OZK (NASDAQ:OZK) announced its quarterly earnings results on Wednesday. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07, Briefing.com reports. The business had revenue of $406.02 million during the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a net margin of 30.69% and a return on equity of 15.13%. During the same quarter in the previous year, the business posted $1.41 EPS.

Bank OZK Price Performance

Shares of OZK traded up $1.73 during midday trading on Thursday, hitting $43.55. 596,329 shares of the company traded hands, compared to its average volume of 1,171,559. The stock has a 50-day moving average of $43.34 and a 200-day moving average of $43.15. Bank OZK has a one year low of $30.72 and a one year high of $52.36. The firm has a market cap of $4.93 billion, a P/E ratio of 7.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.03 and a quick ratio of 1.03.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 12th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, April 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.58%. Bank OZK’s dividend payout ratio is 26.58%.

Wall Street Analysts Forecast Growth

OZK has been the subject of several recent analyst reports. StockNews.com lowered shares of Bank OZK from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wells Fargo & Company reduced their target price on shares of Bank OZK from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Thursday, February 1st. Citigroup reduced their target price on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Raymond James upgraded shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Friday, January 5th. Finally, UBS Group downgraded shares of Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank OZK has an average rating of “Hold” and a consensus price target of $48.14.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. increased its position in shares of Bank OZK by 46.9% in the first quarter. Prudential Financial Inc. now owns 67,648 shares of the company’s stock worth $2,889,000 after purchasing an additional 21,590 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Bank OZK by 25.2% during the first quarter. Federated Hermes Inc. now owns 25,809 shares of the company’s stock worth $1,102,000 after acquiring an additional 5,200 shares in the last quarter. Ergoteles LLC purchased a new position in shares of Bank OZK during the first quarter worth approximately $2,374,000. Covestor Ltd raised its stake in shares of Bank OZK by 56.6% during the first quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after acquiring an additional 324 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Bank OZK during the first quarter worth approximately $179,000. 86.18% of the stock is currently owned by institutional investors.

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.