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

Bank OZK (NASDAQ:OZK) issued its quarterly earnings data on Wednesday. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 28.54% and a return on equity of 15.10%. During the same period last year, the company posted $1.41 earnings per share.

Bank OZK Stock Performance

Shares of NASDAQ:OZK traded up $1.03 on Friday, hitting $44.83. 414,228 shares of the company were exchanged, compared to its average volume of 1,183,277. Bank OZK has a 1-year low of $30.72 and a 1-year high of $52.36. The stock’s 50 day moving average price is $43.34 and its 200 day moving average price is $43.15. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5.07 billion, a P/E ratio of 7.34 and a beta of 1.27.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.39 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, April 11th. Bank OZK’s payout ratio is presently 26.13%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial cut their price objective on shares of Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, April 1st. StockNews.com lowered shares of Bank OZK from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Raymond James raised shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Friday, January 5th. UBS Group lowered shares of Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Wells Fargo & Company cut their price target on shares of Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.14.

Institutional Investors Weigh In On Bank OZK

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 1832 Asset Management L.P. lifted its position in Bank OZK by 18.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,460 shares of the company’s stock valued at $58,000 after purchasing an additional 223 shares during the period. Commonwealth Equity Services LLC lifted its position in Bank OZK by 2.0% during the third quarter. Commonwealth Equity Services LLC now owns 11,571 shares of the company’s stock valued at $457,000 after purchasing an additional 228 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Bank OZK by 66.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $29,000 after purchasing an additional 231 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Bank OZK by 1.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 21,758 shares of the company’s stock valued at $1,084,000 after purchasing an additional 266 shares during the period. Finally, Boothbay Fund Management LLC lifted its position in Bank OZK by 2.5% during the second quarter. Boothbay Fund Management LLC now owns 12,286 shares of the company’s stock valued at $493,000 after purchasing an additional 295 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

About Bank OZK

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.