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

Bank OZK (NASDAQ:OZK) released its quarterly earnings results on Wednesday. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07, Briefing.com reports. The company had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a return on equity of 15.10% and a net margin of 28.54%. During the same quarter last year, the firm posted $1.41 earnings per share.

Bank OZK Price Performance

Shares of OZK traded up $1.14 during midday trading on Friday, hitting $44.94. The company’s stock had a trading volume of 1,646,832 shares, compared to its average volume of 1,192,750. Bank OZK has a one year low of $30.72 and a one year high of $52.36. The company’s fifty day simple moving average is $43.37 and its two-hundred day simple moving average is $43.15. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 7.53 and a beta of 1.27.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 12th will be paid a $0.39 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, April 11th. This represents a $1.56 annualized dividend and a dividend yield of 3.47%. Bank OZK’s dividend payout ratio (DPR) is presently 26.13%.

Institutional Investors Weigh In On Bank OZK

A number of hedge funds and other institutional investors have recently bought and sold shares of OZK. Lazard Asset Management LLC bought a new stake in Bank OZK during the 1st quarter worth $25,000. Steward Partners Investment Advisory LLC increased its stake in shares of Bank OZK by 66.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $29,000 after buying an additional 231 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Bank OZK by 94.0% in the first quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock valued at $33,000 after buying an additional 376 shares during the period. Quarry LP increased its stake in shares of Bank OZK by 235.2% in the first quarter. Quarry LP now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 776 shares during the period. Finally, Covestor Ltd increased its stake in shares of Bank OZK by 56.6% in the first quarter. Covestor Ltd now owns 896 shares of the company’s stock valued at $38,000 after buying an additional 324 shares during the period. Institutional investors own 86.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price target on Bank OZK from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Thursday, February 1st. UBS Group downgraded Bank OZK from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Raymond James upgraded Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Friday, January 5th. Truist Financial reduced their target price on Bank OZK from $52.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Finally, Citigroup dropped their price target on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.14.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.