Bank OZK (NASDAQ:OZK) Announces Quarterly Earnings Results

Bank OZK (NASDAQ:OZK) released its earnings results on Thursday. The company reported $1.51 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 during the quarter, compared to analysts’ expectations of $396.81 million. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. During the same period last year, the firm earned $1.41 EPS.

Bank OZK Stock Up 2.6 %

NASDAQ:OZK opened at $44.94 on Friday. Bank OZK has a 1 year low of $30.72 and a 1 year high of $52.36. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 7.53 and a beta of 1.27. The stock has a 50-day moving average price of $43.37 and a two-hundred day moving average price of $43.15.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, April 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.47%. Bank OZK’s payout ratio is 26.13%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OZK. Citigroup lowered their target price on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Truist Financial lowered 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. StockNews.com cut Bank OZK from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. UBS Group cut Bank OZK from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, Wells Fargo & Company decreased their price objective 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Bank OZK by 10.7% in the first quarter. State Street Corp now owns 12,791,703 shares of the company’s stock valued at $437,476,000 after acquiring an additional 1,235,144 shares during the period. Vanguard Group Inc. grew its stake in Bank OZK by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after acquiring an additional 502,005 shares during the period. BlackRock Inc. grew its stake in Bank OZK by 0.5% in the first quarter. BlackRock Inc. now owns 10,557,856 shares of the company’s stock valued at $361,079,000 after acquiring an additional 55,553 shares during the period. Goldman Sachs Group Inc. grew its stake in Bank OZK by 1,508.4% in the second quarter. Goldman Sachs Group Inc. now owns 4,313,676 shares of the company’s stock valued at $173,237,000 after acquiring an additional 4,045,472 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Bank OZK by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,565,671 shares of the company’s stock valued at $109,555,000 after acquiring an additional 156,127 shares during the period. 86.18% of the stock is 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.