Bank OZK (NASDAQ:OZK) Issues Quarterly Earnings Results

Bank OZK (NASDAQ:OZK) released its earnings results on Thursday. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.07, Briefing.com reports. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The firm had revenue of $406.02 million during the quarter, compared to analysts’ expectations of $396.81 million. During the same period in the prior year, the company earned $1.41 earnings per share.

Bank OZK Stock Up 2.6 %

Shares of NASDAQ:OZK opened at $44.94 on Friday. The firm has a market cap of $5.08 billion, a P/E ratio of 7.53 and a beta of 1.27. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. Bank OZK has a 12-month low of $30.72 and a 12-month high of $52.36. The business has a fifty day simple moving average of $43.37 and a 200 day simple moving average of $43.15.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were given a dividend of $0.39 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, April 11th. Bank OZK’s dividend payout ratio (DPR) is currently 26.13%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its position in Bank OZK by 66.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 581 shares of the company’s stock worth $29,000 after purchasing an additional 231 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Bank OZK during the 1st quarter worth about $25,000. Geneos Wealth Management Inc. grew its holdings in Bank OZK by 94.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock worth $33,000 after acquiring an additional 376 shares during the period. Covestor Ltd grew its holdings in Bank OZK by 56.6% during the 1st quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after acquiring an additional 324 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Bank OZK during the 4th quarter worth about $42,000. 86.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OZK has been the subject of several recent analyst reports. UBS Group cut Bank OZK from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Citigroup dropped their price target 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. StockNews.com cut Bank OZK from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wells Fargo & Company dropped 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. Finally, Raymond James upgraded Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Friday, January 5th. 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’s stock. Based on data from MarketBeat, Bank OZK currently has a consensus rating of “Hold” and an average price target 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.