Bank OZK (NASDAQ:OZK) Issues Quarterly Earnings Results

Bank OZK (NASDAQ:OZK) announced its earnings results on Thursday. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.12, Briefing.com reports. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The business had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. During the same quarter last year, the business earned $1.50 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year.

Bank OZK Trading Up 0.3 %

Shares of NASDAQ:OZK traded up $0.12 during mid-day trading on Thursday, reaching $45.34. 1,476,701 shares of the company were exchanged, compared to its average volume of 1,553,802. Bank OZK has a 1 year low of $37.43 and a 1 year high of $51.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day simple moving average is $46.40 and its 200 day simple moving average is $44.13. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 7.46 and a beta of 1.20.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th will be issued a $0.42 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Tuesday, January 14th. Bank OZK’s dividend payout ratio is currently 26.97%.

Analyst Upgrades and Downgrades

OZK has been the topic of several research analyst reports. Stephens lifted their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Piper Sandler upped their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Truist Financial dropped their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company lifted their price objective on Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Finally, UBS Group began coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Bank OZK has an average rating of “Hold” and a consensus price target of $48.25.

About Bank OZK

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.