Bank OZK (NASDAQ:OZK - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.07, Zacks reports. The firm had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. Bank OZK had a return on equity of 13.46% and a net margin of 25.66%. During the same period last year, the firm posted $1.52 earnings per share.
Bank OZK Trading Up 1.4%
Shares of OZK stock opened at $51.91 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 8.51 and a beta of 0.85. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64. The firm has a fifty day moving average price of $47.03 and a 200-day moving average price of $45.92.
Bank OZK Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, July 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.39%. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio is presently 28.85%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Raymond James Financial raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price target on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Bank OZK from $40.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Stephens reduced their target price on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $52.75.
View Our Latest Stock Analysis on Bank OZK
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of OZK. Focus Partners Wealth grew its holdings in shares of Bank OZK by 11.0% in the first 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 grew its stake in shares of Bank OZK by 29.8% in the 1st quarter. Intech Investment Management LLC now owns 30,436 shares of the company's stock worth $1,322,000 after buying an additional 6,985 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of 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 buying an additional 11,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 buying an additional 5,717 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Bank OZK by 1.8% in the 1st quarter. Empowered Funds LLC now owns 60,037 shares of the company's stock valued at $2,609,000 after acquiring an additional 1,058 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.
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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