Bank OZK (NASDAQ:OZK) Announces Earnings Results

Bank OZK (NASDAQ:OZK) announced its quarterly earnings results on Tuesday. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.03, Zacks reports. Bank OZK had a net margin of 25.27% and a return on equity of 12.32%.

Bank OZK Stock Down 1.3%

Shares of OZK traded down $0.65 during midday trading on Tuesday, hitting $50.78. The stock had a trading volume of 1,755,948 shares, compared to its average volume of 1,270,510. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 8.27 and a beta of 0.89. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66. The company has a 50 day simple moving average of $49.72 and a two-hundred day simple moving average of $48.18.

Bank OZK Increases Dividend

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

Bank OZK News Roundup

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

• Positive Sentiment: Zacks Research boosted its earnings estimates for Bank OZK across several future periods, including FY2027 EPS to $6.75 and FY2028 EPS to $7.84, which suggests analysts see stronger long-term earnings power.
• Neutral Sentiment: Bank OZK received a consensus recommendation of “Hold” from brokerages, indicating Wall Street remains cautious overall despite the recent estimate increases. Bank OZK Receives Consensus Recommendation of “Hold” from Brokerages
• Neutral Sentiment: Bank OZK was named as the lender on a senior warehouse credit facility for Empire Asset Finance, a sign of ongoing commercial activity, but the immediate stock impact appears limited. Empire Asset Finance Secures Senior Warehouse Credit Facility with Bank OZK

Wall Street Analyst Weigh In

OZK has been the subject of several recent research reports. Weiss Ratings raised shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. TD Cowen downgraded shares of Bank OZK from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research report on Monday, July 6th. Morgan Stanley raised their price target on Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Wells Fargo & Company raised their price objective on shares of Bank OZK from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Finally, UBS Group assumed coverage on shares of Bank OZK in a research report on Tuesday, April 7th. They set a “neutral” rating and a $48.00 target price for the company. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.25.

Bank OZK declared that its board has initiated a share buyback program on Monday, June 29th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire 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 shares are undervalued.

Institutional Investors Weigh In On Bank OZK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OZK. Sivia Capital Partners LLC acquired a new position in Bank OZK during the second quarter worth $245,000. Smartleaf Asset Management LLC lifted its holdings in shares of Bank OZK by 563.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,564 shares of the company’s stock worth $166,000 after buying an additional 3,027 shares in the last quarter. State of Wyoming increased its position in Bank OZK by 79.6% during the fourth quarter. State of Wyoming now owns 4,372 shares of the company’s stock worth $201,000 after acquiring an additional 1,938 shares during the period. Prelude Capital Management LLC acquired a new stake in Bank OZK in the 3rd quarter worth about $238,000. Finally, Boothbay Fund Management LLC bought a new stake in Bank OZK in the 3rd quarter valued at about $228,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Company Profile

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.