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

Bank OZK (NASDAQ:OZKGet Rating) posted its quarterly earnings data on Thursday. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.95 by $0.07, MarketWatch Earnings reports. Bank OZK had a net margin of 48.78% and a return on equity of 12.80%. The business had revenue of $280.82 million for the quarter, compared to analyst estimates of $273.45 million. During the same quarter in the previous year, the firm posted $1.11 earnings per share.

Shares of OZK stock opened at $40.74 on Friday. Bank OZK has a 12 month low of $38.57 and a 12 month high of $51.39. The stock has a market cap of $5.11 billion, a P/E ratio of 9.11 and a beta of 1.56. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $43.59 and a two-hundred day simple moving average of $45.61.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, April 15th were issued a dividend of $0.31 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, April 13th. Bank OZK’s dividend payout ratio is currently 27.74%.

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in shares of Bank OZK by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 2,492 shares of the company’s stock worth $116,000 after purchasing an additional 224 shares in the last quarter. BKD Wealth Advisors LLC increased its stake in shares of Bank OZK by 2.8% in the fourth quarter. BKD Wealth Advisors LLC now owns 8,676 shares of the company’s stock worth $404,000 after purchasing an additional 233 shares in the last quarter. Shell Asset Management Co. increased its stake in shares of Bank OZK by 6.0% in the fourth quarter. Shell Asset Management Co. now owns 4,763 shares of the company’s stock worth $222,000 after purchasing an additional 268 shares in the last quarter. Kings Point Capital Management increased its stake in shares of Bank OZK by 0.7% in the third quarter. Kings Point Capital Management now owns 43,066 shares of the company’s stock worth $1,851,000 after purchasing an additional 303 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Bank OZK by 4.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,863 shares of the company’s stock worth $319,000 after acquiring an additional 306 shares during the last quarter. 79.75% of the stock is owned by institutional investors and hedge funds.

OZK has been the topic of several analyst reports. Raymond James upped their target price on shares of Bank OZK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, January 24th. Piper Sandler dropped their target price on shares of Bank OZK from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, March 11th. Citigroup upped their target price on shares of Bank OZK from $46.00 to $50.00 in a research note on Tuesday, January 25th. Zacks Investment Research upgraded shares of Bank OZK from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, December 28th. Finally, StockNews.com initiated coverage on shares of Bank OZK in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $54.00.

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 for Bank OZK (NASDAQ:OZK)

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