Bank OZK (NASDAQ:OZK) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Bank OZK (NASDAQ:OZKGet Free Report) released its quarterly earnings results on Tuesday. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01, Zacks reports. The business had revenue of $430.02 million for the quarter, compared to analysts’ expectations of $436.42 million. Bank OZK had a return on equity of 11.94% and a net margin of 24.95%.The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS.

Bank OZK Trading Up 0.4%

Shares of OZK stock opened at $50.97 on Thursday. The firm has a 50-day moving average price of $49.87 and a 200 day moving average price of $48.25. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 8.42 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 13th were given a dividend of $0.48 per share. The ex-dividend date was Monday, July 13th. This represents a $1.92 dividend on an annualized basis and a yield of 3.8%. This is a boost from Bank OZK’s previous quarterly dividend of $0.47. Bank OZK’s dividend payout ratio (DPR) is 31.27%.

Analyst Ratings Changes

OZK has been the subject of a number of research analyst reports. UBS Group started coverage on Bank OZK in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $48.00 price target for the company. Weiss Ratings raised shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. TD Cowen downgraded shares of Bank OZK from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a report on Monday, July 6th. Morgan Stanley lifted their target price on shares of Bank OZK from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.12.

Read Our Latest Report on OZK

Bank OZK announced that its board has approved a share repurchase program on Monday, June 29th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Bank OZK

A number of hedge funds and other institutional investors have recently modified their holdings of OZK. Sivia Capital Partners LLC purchased a new position in Bank OZK during the second quarter worth approximately $245,000. Smartleaf Asset Management LLC boosted its holdings in shares of Bank OZK by 563.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,564 shares of the company’s stock valued at $166,000 after purchasing an additional 3,027 shares during the last quarter. State of Wyoming grew its stake in shares of Bank OZK by 79.6% during the 4th quarter. State of Wyoming now owns 4,372 shares of the company’s stock valued at $201,000 after buying an additional 1,938 shares during the period. Prelude Capital Management LLC purchased a new stake in shares of Bank OZK during the 3rd quarter valued at $238,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Bank OZK during the 3rd quarter worth $228,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK News Roundup

Here are the key news stories impacting Bank OZK this week:

Bank OZK Company Profile

(Get Free Report)

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.

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Earnings History for Bank OZK (NASDAQ:OZK)

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