Bank OZK (NASDAQ:OZK) Posts Quarterly Earnings Results, Hits Estimates

Bank OZK (NASDAQ:OZK) posted its quarterly earnings data on Tuesday. The company reported $1.44 EPS for the quarter, hitting the consensus estimate of $1.44, Zacks reports. Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.

Bank OZK Stock Down 1.5%

Shares of NASDAQ OZK traded down $0.72 during mid-day trading on Tuesday, reaching $48.52. 2,012,574 shares of the company were exchanged, compared to its average volume of 1,369,751. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 7.86 and a beta of 0.93. Bank OZK has a 1 year low of $40.46 and a 1 year high of $53.66. The firm has a 50-day moving average of $46.82 and a 200 day moving average of $46.96.

Bank OZK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 13th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, April 13th. Bank OZK’s dividend payout ratio is 30.47%.

Hedge Funds Weigh In On Bank OZK

Several hedge funds have recently modified their holdings of the stock. BOKF NA purchased a new position in shares of Bank OZK in the third quarter valued at approximately $27,000. Transamerica Financial Advisors LLC increased its stake in Bank OZK by 111.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock worth $38,000 after acquiring an additional 437 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in Bank OZK during the third quarter worth $51,000. Atlas Capital Advisors Inc. acquired a new stake in Bank OZK during the fourth quarter worth $47,000. Finally, CIBC Private Wealth Group LLC increased its stake in Bank OZK by 436.2% during the third quarter. CIBC Private Wealth Group LLC now owns 1,228 shares of the company’s stock worth $63,000 after acquiring an additional 999 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on OZK shares. TD Cowen lowered their price target on Bank OZK from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank OZK in a report on Tuesday, January 27th. UBS Group initiated coverage on shares of Bank OZK in a report on Tuesday, April 7th. They set a “neutral” rating and a $48.00 price objective for the company. Citigroup reaffirmed a “sell” rating on shares of Bank OZK in a research note on Monday, January 5th. Finally, Wells Fargo & Company lifted their price objective on Bank OZK from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.89.

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.