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

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

Bank OZK Stock Performance

NASDAQ:OZK opened at $44.94 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.01. The company has a fifty day moving average of $43.37 and a two-hundred day moving average of $43.15. The stock has a market capitalization of $5.08 billion, a PE ratio of 7.53 and a beta of 1.27. Bank OZK has a fifty-two week low of $30.72 and a fifty-two week high of $52.36.

Bank OZK Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on OZK. Wells Fargo & Company cut their price objective on shares of Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a research report on Thursday, February 1st. StockNews.com downgraded shares of Bank OZK from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Citigroup dropped their price objective on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Raymond James raised shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Friday, January 5th. Finally, Truist Financial dropped their price objective on shares of Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.14.

Institutional Investors Weigh In On Bank OZK

A number of large investors have recently modified their holdings of OZK. Loomis Sayles & Co. L P purchased a new stake in shares of Bank OZK in the first quarter valued at about $179,000. KBC Group NV acquired a new stake in Bank OZK during the fourth quarter worth approximately $89,000. Point72 Hong Kong Ltd acquired a new stake in Bank OZK during the first quarter worth approximately $73,000. Belpointe Asset Management LLC grew its position in shares of Bank OZK by 18.1% during the first quarter. Belpointe Asset Management LLC now owns 2,127 shares of the company’s stock worth $73,000 after acquiring an additional 326 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Bank OZK by 48.8% during the first quarter. 1832 Asset Management L.P. now owns 1,494 shares of the company’s stock worth $63,000 after acquiring an additional 490 shares during the last quarter. 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.