Bank OZK (NASDAQ:OZK) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Bank OZK (NASDAQ:OZK) issued its earnings results on Tuesday. The company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.02), Zacks reports. Bank OZK had a return on equity of 12.38% and a net margin of 25.27%.The company had revenue of $424.32 million during the quarter, compared to analysts’ expectations of $422.62 million. During the same quarter in the prior year, the business posted $1.47 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year.

Bank OZK Stock Down 2.1%

OZK opened at $47.52 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.08. Bank OZK has a 1-year low of $41.49 and a 1-year high of $53.66. The company has a market capitalization of $5.32 billion, a PE ratio of 7.74 and a beta of 0.93. The firm’s 50 day simple moving average is $46.75 and its two-hundred day simple moving average is $46.95.

Bank OZK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 13th were given a $0.47 dividend. The ex-dividend date was Monday, April 13th. This represents a $1.88 annualized dividend and a yield of 4.0%. Bank OZK’s dividend payout ratio (DPR) is presently 30.47%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Bank OZK from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. TD Cowen dropped their target price on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings upgraded shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Finally, Citigroup restated a “sell” rating on shares of Bank OZK in a report on Monday, January 5th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.89.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OZK. BOKF NA bought a new stake in shares of Bank OZK during the 3rd quarter valued at $27,000. Transamerica Financial Advisors LLC raised its position in shares of Bank OZK by 111.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock valued at $38,000 after purchasing an additional 437 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Bank OZK during the 4th quarter valued at $47,000. Employees Retirement System of Texas bought a new stake in shares of Bank OZK during the 3rd quarter valued at $51,000. Finally, CIBC Private Wealth Group LLC raised its position in shares of Bank OZK by 436.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,228 shares of the company’s stock valued at $63,000 after purchasing an additional 999 shares during the period. 86.18% of the stock is currently owned by 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.