Bank OZK (NASDAQ:OZK) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Bank OZK (NASDAQ:OZK) issued its 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 for the quarter, compared to the consensus estimate 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 for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.50 earnings per share.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $45.34 on Friday. The firm has a market cap of $5.14 billion, a P/E ratio of 7.46 and a beta of 1.20. The company has a 50 day moving average of $46.35 and a 200 day moving average of $44.14. Bank OZK has a twelve month low of $37.43 and a twelve month high of $51.50. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.42 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, January 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.71%. Bank OZK’s dividend payout ratio is presently 26.97%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial reduced their price objective 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. Wells Fargo & Company upped their target price on Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. UBS Group assumed coverage on Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target on the stock. Stephens increased 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. Finally, Piper Sandler boosted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.25.

Bank OZK Company Profile

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.