Zacks: Brokerages Expect Bank OZK (NASDAQ:OZK) Will Post Earnings of $0.97 Per Share

Brokerages expect Bank OZK (NASDAQ:OZK) to announce earnings of $0.97 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Bank OZK’s earnings. The lowest EPS estimate is $0.92 and the highest is $1.07. Bank OZK posted earnings per share of $0.84 in the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, October 21st.

According to Zacks, analysts expect that Bank OZK will report full-year earnings of $4.22 per share for the current year, with EPS estimates ranging from $4.14 to $4.39. For the next fiscal year, analysts anticipate that the business will post earnings of $3.67 per share, with EPS estimates ranging from $3.47 to $4.08. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Bank OZK.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Wednesday, July 21st. The company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.24. Bank OZK had a return on equity of 12.08% and a net margin of 44.62%. The firm had revenue of $268.49 million during the quarter, compared to analysts’ expectations of $259.35 million. During the same period in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year.

Separately, Morgan Stanley raised their price target on Bank OZK from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $45.29.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC increased its position in Bank OZK by 2.5% during the 1st quarter. Cresset Asset Management LLC now owns 10,015 shares of the company’s stock valued at $409,000 after buying an additional 247 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of Bank OZK by 6.2% in the second quarter. Shell Asset Management Co. now owns 4,655 shares of the company’s stock valued at $196,000 after acquiring an additional 270 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Bank OZK by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 19,069 shares of the company’s stock worth $819,000 after purchasing an additional 274 shares during the last quarter. US Bancorp DE increased its stake in Bank OZK by 7.3% during the second quarter. US Bancorp DE now owns 4,057 shares of the company’s stock worth $171,000 after acquiring an additional 276 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Bank OZK by 12.7% during the first quarter. Rockefeller Capital Management L.P. now owns 3,582 shares of the company’s stock valued at $146,000 after buying an additional 403 shares during the period. Institutional investors and hedge funds own 81.19% of the company’s stock.

NASDAQ OZK opened at $43.38 on Thursday. The company has a market cap of $5.61 billion, a PE ratio of 10.66 and a beta of 1.82. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. Bank OZK has a 12 month low of $21.45 and a 12 month high of $45.83. The stock has a 50 day moving average of $42.38 and a 200-day moving average of $41.80.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 22nd. Stockholders of record on Friday, October 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, October 14th. This is a boost from Bank OZK’s previous quarterly dividend of $0.29. Bank OZK’s dividend payout ratio is currently 50.44%.

Bank OZK Company Profile

Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.

Further Reading: Forex

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Earnings History and Estimates for Bank OZK (NASDAQ:OZK)

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