FY2023 Earnings Forecast for Bank OZK Issued By Zacks Research (NASDAQ:OZK)

Bank OZK (NASDAQ:OZK) – Research analysts at Zacks Research boosted their FY2023 earnings per share (EPS) estimates for shares of Bank OZK in a report released on Thursday, November 2nd. Zacks Research analyst R. Department now forecasts that the company will earn $5.71 per share for the year, up from their previous estimate of $5.57. The consensus estimate for Bank OZK’s current full-year earnings is $5.81 per share. Zacks Research also issued estimates for Bank OZK’s Q4 2023 earnings at $1.34 EPS, Q1 2025 earnings at $1.40 EPS, Q2 2025 earnings at $1.42 EPS, Q3 2025 earnings at $1.44 EPS and FY2025 earnings at $5.62 EPS.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Friday, October 20th. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.44 by $0.05. The firm had revenue of $591.24 million for the quarter, compared to analyst estimates of $384.41 million. Bank OZK had a return on equity of 15.23% and a net margin of 33.35%. During the same period in the prior year, the company earned $1.08 EPS.

Several other research firms have also recently weighed in on OZK. Stephens increased their price objective on Bank OZK from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. StockNews.com began coverage on Bank OZK in a research report on Friday, October 6th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on Bank OZK from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Finally, Truist Financial reduced their price objective on Bank OZK from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Bank OZK presently has an average rating of “Hold” and a consensus target price of $40.83.

Bank OZK Trading Up 3.5 %

Shares of OZK stock opened at $39.94 on Friday. The stock has a market capitalization of $4.52 billion, a PE ratio of 6.99 and a beta of 1.36. Bank OZK has a 1-year low of $30.72 and a 1-year high of $49.52. The business has a 50-day moving average of $37.46 and a 200 day moving average of $38.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.03.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, October 13th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, October 12th. This is an increase from Bank OZK’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 3.71%. Bank OZK’s payout ratio is 25.92%.

Hedge Funds Weigh In On Bank OZK

Large investors have recently made changes to their positions in the business. Acorn Financial Advisory Services Inc. ADV boosted its position in shares of Bank OZK by 14.6% during the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 10,249 shares of the company’s stock valued at $351,000 after buying an additional 1,309 shares during the period. Legacy Capital Wealth Partners LLC acquired a new position in shares of Bank OZK during the 1st quarter worth approximately $264,000. BlackDiamond Wealth Management Inc. boosted its holdings in shares of Bank OZK by 5.9% during the 2nd quarter. BlackDiamond Wealth Management Inc. now owns 12,210 shares of the company’s stock worth $514,000 after purchasing an additional 685 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Bank OZK by 406.9% during the 2nd quarter. Bank of Nova Scotia now owns 324,357 shares of the company’s stock valued at $13,026,000 after buying an additional 260,368 shares during the period. Finally, CHICAGO TRUST Co NA purchased a new stake in Bank OZK in the second quarter valued at approximately $215,000. 84.84% of the stock is currently owned by hedge funds and other institutional investors.

About Bank OZK

Bank OZK provides various retail and commercial banking services. The company 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. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural equipment, small business, lines of credit, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.