Bank OZK (NASDAQ:OZK) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Bank OZK (NASDAQ:OZK) posted its earnings results on Tuesday. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03, Zacks reports. Bank OZK had a net margin of 25.27% and a return on equity of 12.32%.

Bank OZK Trading Down 1.3%

Shares of OZK stock traded down $0.65 during trading hours on Tuesday, hitting $50.78. 1,757,088 shares of the company were exchanged, compared to its average volume of 1,275,200. The firm has a fifty day moving average of $49.72 and a 200 day moving average of $48.18. The firm has a market cap of $5.68 billion, a PE ratio of 8.27 and a beta of 0.89. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.14.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.8%. This is a boost from Bank OZK’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, July 13th. Bank OZK’s payout ratio is currently 31.27%.

Hedge Funds Weigh In On Bank OZK

Hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in Bank OZK by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company’s stock worth $379,171,000 after buying an additional 1,924,387 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bank OZK by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,587,068 shares of the company’s stock valued at $303,141,000 after buying an additional 124,691 shares in the last quarter. State Street Corp grew its position in Bank OZK by 9.1% during the 4th quarter. State Street Corp now owns 6,556,105 shares of the company’s stock worth $301,712,000 after acquiring an additional 546,785 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Bank OZK by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,554,014 shares of the company’s stock valued at $209,576,000 after purchasing an additional 73,920 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Bank OZK by 3.3% in the 4th quarter. First Trust Advisors LP now owns 2,901,611 shares of the company’s stock valued at $133,532,000 after purchasing an additional 93,445 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK announced that its board has initiated a stock buyback program on Monday, June 29th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OZK. Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Wells Fargo & Company upped their price target on shares of Bank OZK from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. UBS Group assumed coverage on Bank OZK in a report on Tuesday, April 7th. They issued a “neutral” rating and a $48.00 target price for the company. TD Cowen lowered shares of Bank OZK from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research note on Monday, July 6th. Finally, Weiss Ratings raised shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.25.

Key Stories Impacting Bank OZK

Here are the key news stories impacting Bank OZK this week:

• Positive Sentiment: Zacks Research boosted its earnings estimates for Bank OZK across several future periods, including FY2027 EPS to $6.75 and FY2028 EPS to $7.84, which suggests analysts see stronger long-term earnings power.
• Neutral Sentiment: Bank OZK received a consensus recommendation of “Hold” from brokerages, indicating Wall Street remains cautious overall despite the recent estimate increases. Bank OZK Receives Consensus Recommendation of “Hold” from Brokerages
• Neutral Sentiment: Bank OZK was named as the lender on a senior warehouse credit facility for Empire Asset Finance, a sign of ongoing commercial activity, but the immediate stock impact appears limited. Empire Asset Finance Secures Senior Warehouse Credit Facility with Bank OZK

About Bank OZK

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.