Bank OZK (NASDAQ:OZK - Get Free Report) announced its earnings results on Thursday. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.07, Zacks reports. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The business had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. During the same quarter last year, the business earned $1.52 earnings per share.
Bank OZK Stock Performance
Shares of NASDAQ OZK traded down $0.16 during mid-day trading on Monday, hitting $51.80. The company had a trading volume of 945,748 shares, compared to its average volume of 1,196,824. The firm has a market cap of $5.89 billion, a P/E ratio of 8.39 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.02. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.64. The business's 50-day simple moving average is $47.18 and its 200-day simple moving average is $46.00.
Bank OZK Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.40%. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date was Friday, July 11th. Bank OZK's dividend payout ratio (DPR) is currently 28.57%.
Hedge Funds Weigh In On Bank OZK
Large investors have recently modified their holdings of the business. Focus Partners Wealth boosted its stake in shares of Bank OZK by 11.0% in the 1st quarter. Focus Partners Wealth now owns 17,711 shares of the company's stock valued at $770,000 after purchasing an additional 1,756 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Bank OZK by 29.8% during the first quarter. Intech Investment Management LLC now owns 30,436 shares of the company's stock valued at $1,322,000 after buying an additional 6,985 shares during the last quarter. Royal Bank of Canada increased its holdings in Bank OZK by 37.8% in the 1st quarter. Royal Bank of Canada now owns 41,257 shares of the company's stock worth $1,792,000 after acquiring an additional 11,310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Bank OZK by 14.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,690 shares of the company's stock valued at $2,029,000 after acquiring an additional 5,717 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Bank OZK by 1.8% during the first quarter. Empowered Funds LLC now owns 60,037 shares of the company's stock worth $2,609,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors own 86.18% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company raised their target price on shares of Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday. Stephens lowered their price objective on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Bank OZK currently has an average rating of "Hold" and an average price target of $52.88.
Read Our Latest Report on Bank OZK
About Bank OZK
(
Get Free Report)
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.
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