Bank OZK (NASDAQ:OZK) Issues Earnings Results, Beats Expectations By $0.07 EPS

Bank OZK (NASDAQ:OZK) posted its quarterly earnings results on Thursday. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07, Briefing.com reports. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The business had revenue of $406.02 million for the quarter, compared to the consensus estimate of $396.81 million. During the same period in the prior year, the business earned $1.41 EPS.

Bank OZK Trading Up 2.6 %

Shares of Bank OZK stock opened at $44.94 on Friday. The firm has a market cap of $5.08 billion, a PE ratio of 7.53 and a beta of 1.27. Bank OZK has a 1 year low of $30.72 and a 1 year high of $52.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.03. The stock has a fifty day moving average price of $43.37 and a 200-day moving average price of $43.15.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, April 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. Bank OZK’s dividend payout ratio is 26.13%.

Wall Street Analyst Weigh In

OZK has been the subject of several research reports. Raymond James raised shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Friday, January 5th. StockNews.com lowered shares of Bank OZK from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Truist Financial cut their price target on Bank OZK from $52.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, April 1st. UBS Group lowered Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Citigroup decreased their price objective on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.14.

Institutional Trading of Bank OZK

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new stake in shares of Bank OZK in the first quarter valued at $25,000. Steward Partners Investment Advisory LLC raised its stake in Bank OZK by 66.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $29,000 after acquiring an additional 231 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Bank OZK by 94.0% during the first quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock valued at $33,000 after purchasing an additional 376 shares during the last quarter. Quarry LP lifted its holdings in Bank OZK by 235.2% during the first quarter. Quarry LP now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 776 shares during the last quarter. Finally, Covestor Ltd boosted its position in Bank OZK by 56.6% during the first quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after purchasing an additional 324 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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.