Zacks Research Comments on Bank OZK’s Q3 2024 Earnings (NASDAQ:OZK)

Bank OZK (NASDAQ:OZK) – Investment analysts at Zacks Research cut their Q3 2024 earnings estimates for shares of Bank OZK in a research report issued on Wednesday, August 7th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $1.48 per share for the quarter, down from their prior forecast of $1.51. The consensus estimate for Bank OZK’s current full-year earnings is $6.05 per share. Zacks Research also issued estimates for Bank OZK’s Q4 2024 earnings at $1.45 EPS, FY2024 earnings at $5.97 EPS, Q1 2025 earnings at $1.47 EPS, Q2 2025 earnings at $1.50 EPS, Q3 2025 earnings at $1.54 EPS, FY2025 earnings at $6.08 EPS and FY2026 earnings at $6.20 EPS.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The firm had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. During the same quarter in the previous year, the business posted $1.47 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year.

Several other research firms also recently weighed in on OZK. StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Truist Financial boosted their target price on shares of Bank OZK from $41.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Stephens reissued an “equal weight” rating and issued a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Citigroup downgraded shares of Bank OZK from a “buy” rating to a “sell” rating and dropped their target price for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Bank OZK presently has a consensus rating of “Hold” and an average target price of $46.71.

Bank OZK Stock Performance

Shares of OZK stock opened at $40.88 on Friday. The company’s fifty day moving average price is $41.68 and its two-hundred day moving average price is $43.57. The firm has a market capitalization of $4.64 billion, a P/E ratio of 6.85 and a beta of 1.20. Bank OZK has a 12 month low of $34.76 and a 12 month high of $52.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.01.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, July 12th. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio is currently 26.80%.

Institutional Investors Weigh In On Bank OZK

A number of institutional investors have recently modified their holdings of OZK. New York State Teachers Retirement System grew its position in shares of Bank OZK by 9.1% during the 4th quarter. New York State Teachers Retirement System now owns 131,220 shares of the company’s stock valued at $6,539,000 after buying an additional 10,998 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Bank OZK by 229.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,382 shares of the company’s stock worth $1,913,000 after purchasing an additional 26,741 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Bank OZK by 4.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 50,479 shares of the company’s stock worth $2,515,000 after purchasing an additional 2,292 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Bank OZK by 33.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 29,497 shares of the company’s stock worth $1,470,000 after purchasing an additional 7,354 shares during the last quarter. Finally, Cardinal Capital Management grew its position in Bank OZK by 1.0% in the 4th quarter. Cardinal Capital Management now owns 30,704 shares of the company’s stock worth $1,530,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

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.