Bank OZK (NASDAQ:OZK – Get Free Report) released its earnings results on Tuesday. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.43 by $0.07, Zacks reports. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%.
Bank OZK Price Performance
Shares of Bank OZK stock traded up $0.97 during midday trading on Tuesday, hitting $46.16. 2,113,105 shares of the company were exchanged, compared to its average volume of 1,282,251. The firm has a 50 day simple moving average of $48.08 and a 200-day simple moving average of $48.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $5.16 billion, a P/E ratio of 7.63 and a beta of 0.92. Bank OZK has a 52 week low of $42.37 and a 52 week high of $53.39.
Bank OZK Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, October 13th will be given a dividend of $0.49 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, October 13th. This represents a $1.96 annualized dividend and a dividend yield of 4.2%. Bank OZK’s dividend payout ratio is 32.40%.
Bank OZK declared that its board has approved a stock buyback program on Monday, June 29th that authorizes the company to repurchase $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
OZK has been the subject of several research reports. Raymond James Financial started coverage on shares of Bank OZK in a research note on Tuesday, September 1st. They issued a “market perform” rating for the company. Citigroup restated a “sell” rating on shares of Bank OZK in a research report on Tuesday, October 6th. UBS Group upped their target price on Bank OZK from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Zacks Research raised Bank OZK from a “strong sell” rating to a “hold” rating in a research report on Friday, September 25th. Finally, Weiss Ratings cut Bank OZK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.33.
View Our Latest Analysis on OZK
About Bank OZK
Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.
Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.
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