Bank OZK (NASDAQ:OZK) Issues Earnings Results, Beats Estimates By $0.12 EPS

Bank OZK (NASDAQ:OZK) posted its quarterly earnings results on Thursday. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.44 by $0.12, Briefing.com reports. The company had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 EPS.

Bank OZK Trading Up 9.7 %

NASDAQ:OZK opened at $49.74 on Friday. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 8.18 and a beta of 1.20. Bank OZK has a 1 year low of $37.43 and a 1 year high of $51.50. The stock has a fifty day moving average price of $46.42 and a two-hundred day moving average price of $44.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio is currently 26.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OZK shares. Truist Financial lowered their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. UBS Group started coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price for the company. Stephens restated an “equal weight” rating and issued a $53.00 price target on shares of Bank OZK in a research report on Friday. Piper Sandler increased their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their target price on Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.50.

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.