Bank OZK (NASDAQ:OZK) Expected to Announce Quarterly Sales of $275.30 Million

Wall Street analysts predict that Bank OZK (NASDAQ:OZKGet Rating) will post $275.30 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Bank OZK’s earnings, with estimates ranging from $274.20 million to $276.70 million. Bank OZK reported sales of $266.75 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The business is scheduled to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Bank OZK will report full year sales of $1.13 billion for the current financial year, with estimates ranging from $1.11 billion to $1.17 billion. For the next fiscal year, analysts expect that the business will post sales of $1.23 billion, with estimates ranging from $1.18 billion to $1.33 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Bank OZK.

Bank OZK (NASDAQ:OZKGet Rating) last released its quarterly earnings results on Thursday, January 20th. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.98 by $0.19. The firm had revenue of $296.08 million for the quarter, compared to analyst estimates of $273.42 million. Bank OZK had a return on equity of 12.80% and a net margin of 48.78%. Bank OZK’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS.

Several equities research analysts have issued reports on the company. StockNews.com assumed coverage on Bank OZK in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Bank OZK from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, December 28th. Raymond James lifted their price objective on Bank OZK from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, January 24th. Piper Sandler lowered their price target on Bank OZK from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, March 11th. Finally, Truist Financial upped their price objective on Bank OZK from $48.00 to $53.00 in a research note on Monday, January 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $52.25.

OZK stock opened at $40.33 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. Bank OZK has a 52-week low of $38.01 and a 52-week high of $51.39. The stock’s 50 day moving average is $44.64 and its two-hundred day moving average is $45.75. The company has a market capitalization of $5.06 billion, a PE ratio of 9.02 and a beta of 1.56.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 22nd. Shareholders of record on Friday, April 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.30. Bank OZK’s payout ratio is 26.85%.

A number of hedge funds have recently made changes to their positions in the business. Private Wealth Group LLC acquired a new position in Bank OZK during the 1st quarter worth $321,000. Norges Bank acquired a new stake in shares of Bank OZK in the fourth quarter valued at $53,315,000. BlackRock Inc. lifted its holdings in shares of Bank OZK by 0.4% in the fourth quarter. BlackRock Inc. now owns 10,756,657 shares of the company’s stock valued at $500,505,000 after buying an additional 40,211 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Bank OZK by 7.2% in the fourth quarter. Wells Fargo & Company MN now owns 660,311 shares of the company’s stock valued at $30,725,000 after buying an additional 44,485 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Bank OZK by 45.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 471,242 shares of the company’s stock valued at $21,927,000 after buying an additional 148,021 shares during the period. Institutional investors own 79.75% of the company’s stock.

Bank OZK Company Profile (Get Rating)

Bank OZK provides various retail and commercial banking services. It accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. The company also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.

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Earnings History and Estimates for Bank OZK (NASDAQ:OZK)

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