Bank OZK (NASDAQ:OZK) Announces Earnings Results

Bank OZK (NASDAQ:OZK) posted its quarterly earnings results on Wednesday. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07, Briefing.com reports. The company had revenue of $406.02 million for the quarter, compared to the consensus estimate of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 15.10%. During the same quarter last year, the firm posted $1.41 earnings per share.

Bank OZK Stock Up 2.0 %

OZK traded up $0.87 during trading hours on Friday, reaching $44.67. 674,370 shares of the stock traded hands, compared to its average volume of 1,186,742. The firm’s fifty day simple moving average is $43.34 and its two-hundred day simple moving average is $43.15. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 7.34 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. 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 company also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 12th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.49%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, April 11th. Bank OZK’s dividend payout ratio (DPR) is presently 26.13%.

Analyst Ratings Changes

A number of equities analysts have weighed in on OZK shares. Truist Financial cut their price target on shares of Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. StockNews.com downgraded shares of Bank OZK from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Citigroup cut their target price on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Wells Fargo & Company cut their target price on shares of Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Thursday, February 1st. Finally, UBS Group downgraded shares of Bank OZK from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Bank OZK has an average rating of “Hold” and a consensus price target of $48.14.

Institutional Investors Weigh In On Bank OZK

A number of large investors have recently added to or reduced their stakes in OZK. Steward Partners Investment Advisory LLC grew its holdings in Bank OZK by 66.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 581 shares of the company’s stock worth $29,000 after acquiring an additional 231 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Bank OZK in the 1st quarter valued at about $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Bank OZK by 94.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock valued at $33,000 after buying an additional 376 shares during the period. Covestor Ltd boosted its holdings in shares of Bank OZK by 56.6% in the 1st quarter. Covestor Ltd now owns 896 shares of the company’s stock valued at $38,000 after buying an additional 324 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Bank OZK in the 4th quarter valued at about $42,000. 86.18% of the stock is owned by institutional investors and hedge funds.

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.