Bank OZK (NASDAQ:OZK) Releases Earnings Results, Meets Expectations

Bank OZK (NASDAQ:OZK) issued its quarterly earnings data on Tuesday. The company reported $1.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.44, Zacks reports. Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.

Bank OZK Price Performance

Shares of OZK stock traded down $0.72 during trading hours on Tuesday, hitting $48.52. The company’s stock had a trading volume of 2,012,574 shares, compared to its average volume of 1,369,751. The business has a fifty day moving average of $46.82 and a 200-day moving average of $46.96. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 7.86 and a beta of 0.93. Bank OZK has a twelve month low of $40.46 and a twelve month high of $53.66. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.08.

Bank OZK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 13th were given a $0.47 dividend. The ex-dividend date was Monday, April 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.9%. Bank OZK’s dividend payout ratio is currently 30.47%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OZK. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank OZK in a research report on Tuesday, January 27th. Wells Fargo & Company boosted their target price on Bank OZK from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. Morgan Stanley boosted their target price on Bank OZK from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Stephens lowered their target price on Bank OZK from $64.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Bank OZK from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.89.

Hedge Funds Weigh In On Bank OZK

Hedge funds have recently bought and sold shares of the stock. BOKF NA purchased a new position in Bank OZK during the third quarter worth $27,000. Transamerica Financial Advisors LLC grew its position in shares of Bank OZK by 111.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock valued at $38,000 after purchasing an additional 437 shares during the period. Employees Retirement System of Texas purchased a new stake in Bank OZK during the third quarter valued at about $51,000. Atlas Capital Advisors Inc. purchased a new stake in Bank OZK during the fourth quarter valued at about $47,000. Finally, CIBC Private Wealth Group LLC grew its position in Bank OZK by 436.2% during the third quarter. CIBC Private Wealth Group LLC now owns 1,228 shares of the company’s stock valued at $63,000 after acquiring an additional 999 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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.