Bank Ozk (OZK) Sets New 12-Month Low Following Weak Earnings

Bank Ozk (NASDAQ:OZK) reached a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $25.10 and last traded at $26.85, with a volume of 566804 shares traded. The stock had previously closed at $34.85.

The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.32). Bank Ozk had a net margin of 41.20% and a return on equity of 12.05%. The company had revenue of $244.74 million for the quarter, compared to the consensus estimate of $258.05 million. During the same period in the previous year, the business earned $0.75 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, October 12th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 3.29%. This is an increase from Bank Ozk’s previous quarterly dividend of $0.20. Bank Ozk’s dividend payout ratio (DPR) is presently 28.38%.

A number of brokerages recently weighed in on OZK. Brean Capital set a $54.00 price objective on Bank Ozk and gave the company a “buy” rating in a research report on Friday. Sandler O’Neill downgraded Bank Ozk from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a research report on Friday. Raymond James downgraded Bank Ozk from an “outperform” rating to a “market perform” rating in a report on Friday. Stephens reissued a “hold” rating and issued a $48.00 price target on shares of Bank Ozk in a report on Thursday, August 23rd. Finally, Zacks Investment Research downgraded Bank Ozk from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Three 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.60.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Citizens Bank & Trust Co. acquired a new stake in Bank Ozk in the third quarter worth about $296,000. BKD Wealth Advisors LLC acquired a new stake in Bank Ozk in the third quarter worth about $304,000. Raymond James Trust N.A. acquired a new stake in Bank Ozk in the third quarter worth about $382,000. Osborn Williams & Donohoe LLC acquired a new stake in Bank Ozk in the third quarter worth about $404,000. Finally, Bank of Montreal Can acquired a new stake in Bank Ozk in the third quarter worth about $434,000. 87.05% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.84 and a beta of 1.20.

Bank Ozk Company Profile (NASDAQ:OZK)

Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits.

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