Bank OZK (NASDAQ:OZK) Trading Up 2.7% Following Earnings Beat

Bank OZK (NASDAQ:OZK)’s share price traded up 2.7% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $42.99 and last traded at $42.96. 121,522 shares changed hands during trading, a decline of 90% from the average session volume of 1,166,475 shares. The stock had previously closed at $41.82.

The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. The business had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a net margin of 30.69% and a return on equity of 15.13%. During the same quarter in the previous year, the firm posted $1.41 earnings per share.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 12th will be issued a $0.39 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, April 11th. This represents a $1.56 annualized dividend and a dividend yield of 3.63%. Bank OZK’s dividend payout ratio (DPR) is presently 26.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OZK. StockNews.com cut Bank OZK from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Truist Financial lowered their target price on Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Raymond James upgraded Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Friday, January 5th. UBS Group downgraded shares of Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Wells Fargo & Company cut their price target on Bank OZK from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.14.

Institutional Trading of Bank OZK

Several institutional investors and hedge funds have recently modified their holdings of OZK. Qube Research & Technologies Ltd bought a new position in shares of Bank OZK in the third quarter worth about $10,788,000. Comerica Bank bought a new stake in shares of Bank OZK during the third quarter worth $4,252,000. Pathstone Family Office LLC acquired a new position in shares of Bank OZK during the third quarter worth $667,000. Great Lakes Advisors LLC lifted its stake in shares of Bank OZK by 5.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 513,005 shares of the company’s stock valued at $19,017,000 after acquiring an additional 28,679 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Bank OZK by 58.1% during the 3rd quarter. Treasurer of the State of North Carolina now owns 78,595 shares of the company’s stock worth $2,914,000 after acquiring an additional 28,893 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Up 2.9 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 7.12 and a beta of 1.27. The stock has a 50 day moving average price of $43.34 and a 200 day moving average price of $43.15.

Bank OZK Company Profile

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.